Olam Group has hired banks for the Singapore IPO listing of its agribusiness Olam Agri, for about $1bn. The listing is planned to get completed later this year. Olam is currently focusing on executing its reorganization plan and will make a public announcement about any material developments, as per a company representative. Olam Group has completed the sale of a 35% stake in Olam Agri to state-owned Saudi Agricultural & Livestock Investment Co. with a valuation of $3.5bn.
Olam’s bonds were trading stable with its SGD 5.375% Perp at 90.23, yielding 8.65%
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