KUALA LUMPUR, Aug. 25 -- FGV Holdings Bhd will be delisted from Bursa Malaysia on August 28, marking the end of its 13-year journey as a publicly traded company.

The company's shares were suspended from trading today following the successful takeover bid by its parent company, Federal Land Development Authority (Felda), The Edge reported.

Felda initiated its privatisation offer on May 26, proposing RM1.30 per share, which matched its previous unsuccessful attempt in 2020.

The offered price was significantly below the independent adviser's valuation range of RM1.83 to RM1.99 per share.

FGV made its debut on Bursa Malaysia in 2012 at RM4.55 per share through one of the year's largest global initial public offerings.

The IPO raised appr...