FGVH soars 20pc on debut

Source by: The Malaysian Insider

UPDATED @ 12:42:26 PM 28-06-2012

June 28, 2012

Datuk Seri Najib Razak (centre) holds up the FGV prospectus during a launch event in Kuala Lumpur.—File pic

 

KUALA LUMPUR, June 28 — Shares in palm oil firm Felda Global Ventures Holding (FGVH) surged 20 per cent in their trading debut today, as investors cheered on the world’s second largest IPO after Facebook’s rocky initial public offering.

The strong debut beat market expectations of a first day pop of 10 per cent and brushed aside, for now, a widely flagged 36 per cent drop in FGVH’s first quarter profit to RM223.2 million that had initially unnerved some investors.

Read more:http://www.themalaysianinsider.com/business/article/fgv-soars-19pc-on-debut/