03 Aug 2012 05:16PM
Prices delayed by 15 mins.
Prices delayed by 15 mins.
Last Done 5.050 (-)
| Board | MAIN-MKT |
|---|---|
| Sector | PLANTATION |
| Stock Code | 5222 |
| Change | - |
| Percentage Change | - |
| Volume ('00) | 97,205 |
| Buy Volume ('00) | 6,847 |
| Buy | 5.050 |
| Sell | 5.060 |
| Sell Volume ('00) | 1,110 |
| Reference Price | 5.050 |
| Open | 5.030 |
| High | 5.060 |
| Low | 4.990 |
| Remarks | s |
The stock price of Felda Global Ventures Holdings Bhd (FGV), which sparked controversy before its debut listing on June 28, has been on a downward trend for the past two weeks.
In fact, the plantation giant's share price fell below RM5 level to RM4.99 at one point yesterday, which was 10.1 percent lower than its highest ever price of RM5.55 on July 5.
However, the stock later rebounced and closed at RM5.05, with 17 million shares traded for whole day. It ranked as fourth most active stock and still enjoys a 9.7 percent premium over its offer price of RM4.55.Opening at RM5.03 today, FGV once again fell to RM4.99 at around 9.43am in conjunction with weak sentiments on broader market, but closed at RM5.05 at the end of the day.
The stock is also among the 20 most active stocks today, with 9.7 million shares traded.
FGV, which is the main investment arm of the Federal Land Development Authority (Felda), has been touted by federal government as the world's second biggest initial public offering behind Facebook this year and aimed to benefit the Felda settlers at large.
Opening at RM5.39, FGV shares soared 20 percent to RM5.46 on the first day of trading on June 28.
However, some market analysts are cautious about the performance of the FGV shares as half of the Felda estates are more than 20 years old and local palm oil industry is facing increased competition from Indonesia.
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