Wednesday, June 27, 2012

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

A worker carrying palm oil fruit

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.



Source & Image : BBC

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