In today’s briefing:
- Olam Group (OLG SP): EGM on 29 March Another Step to Realize Value
Olam Group (OLG SP): EGM on 29 March Another Step to Realize Value
- Olam Group (OLG SP) has despatched the EGM circular to get shareholder approval for the next step in the restructuring exercise to unlock value – Olam Agri IPO.
- The Olam Agri IPO through a dual primary listing (SGX ST and Saudi Arabia) involves a primary (IPO shares are 20% of enlarged shares) and secondary (25% vendor sale) offering.
- The EGM marks a key step in the strategy to unlock value. Our SoTP valuation is S$2.13 per share, which is a 28% upside to the last close price.
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