Olam Group plans dual listing of Olam Agri Holdings in Singapore, Saudi Arabia

Logo of Olam Agri Holdings Co.

Olam Group intended to float its agricultural business unit, Olam Agri Holdings, for public offering on the Singapore Exchange (SGX), with the possibility of a dual listing on the Saudi Exchange (Tadawul) during the first half of 2023.

According to the company’s statement, the proposed initial public offering (IPO) of Olam Agri Holdings on Tadawul will be the first listing of an international firm in the Kingdom.

This plan generated after selling a share in Olam Agri to the Saudi Agricultural and Livestock Investment Company (SALIC), at an estimated value of $1.24 billion (SAR 4.65 billion).

In December, SALIC, a wholly owned subsidiary of the Public Investment Fund (PIF), completed the acquisition of a 35.43% stake in Olam Agri for SAR 4.65 billion, Argaam earlier reported.

Olam Agri, headquartered in Singapore, is one of the world’s leading commodity trading and processing companies specializing in grains, oilseeds, rice, and animal feed. The company has a presence in more than 30 countries worldwide.

In 2021, it handled more than 40 million tons of products and generated more than $23 billion in revenue.

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