Felda Said to Raise $3.3 Billion in Malaysian Share Sale

Felda Global Ventures Holdings Bhd., the world’s third-largest operator of palm oil plantations, raised about 10.4 billion ringgit ($3.3 billion) in the biggest initial public offering since Facebook Inc., said three people with knowledge of the matter.

The Kuala Lumpur-based company priced shares to institutional investors at 4.55 ringgit each, said the people, asking not to be identified as the information is confidential. Felda Global had marketed the shares at 4 ringgit to 4.65 ringgit. Demand for shares from fund managers exceeded supply by more than 29 times at that price, two of them said.