KUALA LUMPUR, Malaysia (AP) -- Malaysian plantation giant Felda says its initial public offering this month could raise up to 10.5 billion ringgit ($3.3 billion), making it the world's second biggest IPO this year after Facebook.
State-owned Felda Global Venture Holdings launched its prospectus Thursday. It said estimated proceeds were based on a 4.55 ringgit ($1.40) per share price for retail investors.
Felda CEO Sabri Ahmad brushed aside weaknesses in global markets. He said the stock will be "safe haven" for investors and will do well when it is listed June 28.
Sabri said the IPO has attracted investors including Qatar Investment and French agribusiness giant Louis Dreyfus.
The IPO will be second biggest in the world this year after Facebook, which raised $16 billion.