Cleary Gottlieb Steen & Hamilton and Linklaters have taken the lead on the $3.2bn (£2.1bn) initial public offering (IPO) of Malaysian palm oil group Felda Global Ventures, which is set to become the largest listing in Asia since the start of 2012.

US firm Cleary is advising the state-owned company, which is listing on the Kuala Lumpur stock exchange.