Olam Agri unit dual listing may launch in June

Logo of Agri-food giant Olam Group

Agri-food giant Olam Group aims to launch the dual initial public offering (IPO) of its agricultural unit in June, Reuters reported, citing unnamed sources.

The IPO could raise up to $1 billion in Singapore and Saudi Arabia and is subject to regulatory approvals.

Most of the related measures were complete, including the global roadshows in addition to getting indicative commitments from anchor investors.

Olam Group revealed in January plans to float its agricultural business unit, Olam Agri Holdings, for public offering on the Singapore Exchange (SGX), with the possibility of a dual listing on the Saudi Exchange (Tadawul) during the first half of 2023, Argaam reported.

This came after the Saudi Agricultural and Livestock Investment Company (SALIC), a wholly-owned subsidiary of the Public Investment Fund (PIF), completed the acquisition of a 35.43% stake in Olam Agri Holdings for SAR 4.65 billion.

For More IPOs