Fidelity Investments and Hong Kong's Value Partners have agreed to make cornerstone investments in the proposed listing of Malaysia's Felda Global Ventures, a source directly involved in the listing said on Wednesday.
The initial public offering of the world's second-largest palm oil operator, which is expected to raise more than $3 billion, has also attracted investment commitments from Malaysian tycoon Quek Leng Chan, Malaysia's state-owned Permodalan Nasional and the Employees Provident Fund, the source added. "There are a few more," said the source, who declined to be named as the discussions are private. He added that the exact allocations for the cornerstones will only be finalised in the coming days.
Felda Global Ventures Holding (FGVH) is preparing to sell shares in what promises to be the world's second-largest initial public offering this year after Facebook.
Commodities group Louis Dreyfus said on Monday it agreed to take a minority stake in Felda, adding that it was conditional on a successful June stock market float.