In today’s briefing:
- Petrodollars Fan Olam’s Agri Listing In Singapore And Saudi Arabia
Petrodollars Fan Olam’s Agri Listing In Singapore And Saudi Arabia
- After selling a 35.43% stake in Olam Agri to Saudi Arabia’s Public Investment Fund last month, Olam Group (OLG SP) intends to dual list the company in Singapore and Saudi Arabia.
- The stake sale implied a US$3.5bn value for the agricultural arm, or ~50% of OGL’s current market cap based on its remaining position in Olam Agri.
- Olam Agri may raise up to US$1bn via the listing. A separate London listing of OGL’s food ingredient business is expected to occur subsequent to Olam Agri’s listing.
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