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Hot stock: Olam asks to resume trading


MAINBOARD-LISTED Olam International on Friday morning requested for a lifting of the trading halt in a filing to Singapore Exchange.

The commodity trader had on Thursday morning requested for a trading halt, before announcing early on Friday that Tokyo-based Mitsubishi Corp had agreed to buy a 20 per cent stake in the group, in two deals worth a total of S$1.53 billion.

The deal is the latest sign of Asian trading houses spending billions of dollars in agriculture, banking on the idea that fast-growing populations in the region will need more food.