The Singaporean Olam Group is seeking to offer its agricultural unit for initial public offering during the first half of next year, which means that it will, after the upcoming offering, go to the dual listing of “Olam Agricultural” in Saudi Arabia and Singapore, as observers expect.
The group operating in commodity trading confirmed last May that it does not expect the dual listing of “Olam Agricultural” in Singapore and Saudi Arabia in the first half of 2023 as scheduled. It stated earlier that it also intends to offer its unit, Olam Food Ingredients. As part of a comprehensive reform plan for its activities, but confirmed yesterday (Friday) that this will not happen before listing its agricultural unit.
And Olam Agricultural Company, which deals in grains, animal feed, edible oils, rice and cotton, announced that its profits in the first half, excluding interest and taxes, fell 9% due to the decline in the productivity of the almond crop in Australia.
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