Mizuho, Credit Suisse join banks on Olam Agri IPO in Singapore, Saudi Arabia

24/02/2023 Argaam
Logo ofOlam Agricultural

Logo of Olam Agricultural


Credit Suisse Group and Mizuho Financial Group Inc. joined the banks working on the listing of Olam Group’s agricultural business in Singapore and Saudi Arabia, Bloomberg reported, citing sources with knowledge of the matter.

 

Saudi National Bank and EFG Hermes joined as joint book-runners on the potential offering.

 

The company is expected to raise up to $1 billion from the IPO, the sources, said.

 

In January, Olam Group announced its plans 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 data available with Argaam.

 

In December 2022, 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.

 

For More IPOs

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.