Olam shares rise 8% following regulatory approval to divest partial stake of agribusiness unit
This is the first of two tranches in company’s planned disposal of its remaining interest in Olam Agri to Saudi fund
[SINGAPORE] Shares of Olam Group rose more than 8 per cent on Thursday (Apr 16) morning, after it secured regulatory approval to sell 44.58 per cent of its agribusiness unit – Olam Agri – to a Saudi fund.
As at 9.03 am, the counter was trading at S$0.95, up by around 5.7 per cent. It later eased to S$0.94 at 9.38 am, before reaching an intra-day high of S$0.965 at 9.52 am, up 8.4 per cent or S$0.075.
This is the first of two tranches in Olam’s planned US$2.6 billion disposal of its remaining 64.57 per cent stake in Olam Agri to Saudi Agricultural and Livestock Investment Company (Salic).
A bourse filing noted that the divestment of the 44.58 per cent stake for US$1.8 billion was expected to have been completed in the fourth quarter of 2025 – subject to shareholder and regulatory approvals. It will bring Salic’s interest in Olam Agri to 80.01 per cent, up from 35.43 per cent.
Additional reporting by Therese Soh
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