Olam Group to list its agribusiness subsidiary in Saudi Arabia

Olam Group to list its agribusiness subsidiary in Saudi Arabia

Olam Group is planning to list an initial public offering (IPO) for its agri-business subsidiary, Olam Agri Holdings (OAHPL).

Earlier last year, the Group announced a strategic partnership between their agribusiness subsidiart and The Saudi Agricultural and Livestock Company (SALIC) through the sale of a substantial minority stake in OAHPL for $1.24 billion.

Following the SALIC Transaction, Olam is seeking a primary listing for OAHPL in Singapore, while exploring a concurrent listing on the Saudi Exchange. If this takes place, the OAHPL IPO would be the first dual-listing for a company on these two bourses and the first-ever listing in Saudi Arabia of a non-GCC incorporated business.

“With the completion of the minority stake sale and strategic partnership with SALIC, Olam Agri is positioned to grow as a result of the demand for food, feed, and fiber across end-consumption growth markets. We are exploring a dual-listing in Singapore and Saudi Arabia – which would be the first of its kind – to tap into our strong Singapore and global shareholder base whilst welcoming investors in the Middle East, a region we intend to grow further,” Sunny Verghese, Co-Founder and Group CEO of Olam Group and CEO of Olam Agri, said.

OAHPL is a food and agribusiness that is positioned to serve and capitalize on meeting the rising demand for food, feed, and fiber, amid a greater global focus on food security.

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