May 30 (Reuters) - Malaysian plantation operator Felda Global Ventures Holdings is expected to begin the book-building process for its $3 billion initial public offering on Thursday, Thomson Reuters publication IFR reported.
The price range for the world’s No.3 palm plantation operator IPO will be between 4.00 ringgit ($1.26) and 4.65 ringgit ($1.46) per share, Wednesday’s report said.
Reuters reported last week that the book-building process of the company’s listing will begin on May 31 and end on June 15, citing a source with direct knowledge of the deal.
The IPO consists of 2.19 billion shares, including a public issue of 980 million shares and an offer for sale of 1.21 billion shares, according to Felda Global’s draft prospectus filed on April 27.
CIMB and Maybank, as well as Morgan Stanley, are the joint global coordinators for Felda Global’s listing, while JPMorgan and Deutsche Bank are joint book runners.