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.