Felda launches Malaysian IPO of up to $3.2 billion

Felda Global Ventures yesterday kicked off the bookbuilding for one of the most awaited initial public offerings in Asia this year — especially since other deals are falling by the wayside amid a continuing decline in global financial markets. The Malaysian government-owned agricultural commodities company is seeking to raise between M$8.76 billion and M$10.18 billion ($2.78 billion to $3.2 billion), which could make it the second-biggest IPO in the world this year after Facebook’s $16 billion offering, according to Bloomberg data.