Economy

xchrom

(108,903 posts)

17. Felda shares up 19% as investors bet on palm oil demand

Thu Jun 28, 2012, 08:19 AM

Jun 2012

http://www.bbc.co.uk/news/business-18621569

Shares in Malaysian palm oil firm Felda have surged on their debut as investors bet on growing demand for its product from the region.

The firm's shares jumped as much as 19% to 5.39 ringgit on the Malaysian stock exchange, Bursa Malaysia.

The company had raised almost 10.4bn ringgit ($3.2bn; £2bn) via its share sale, which was the world's second biggest this year after Facebook.

Malaysia is the world's second largest producer of palm oil.

According to government statistics, the palm oil industry currently generates an annual turnover of $16.6bn (£10.6bn).

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