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Wilmar sinks 10% after major shareholder reveals plans to cut stake
Published Thu, Aug 20, 2020 · 09:50 PM
Singapore
SHARES of agri-food giant Wilmar International fell 10 per cent on Thursday after one of its largest shareholders, Archer Daniels Midland (ADM), announced plans to sell off shares and bonds worth US$800 million.
Wilmar shares dropped to an intraday low of S$4.31. They ended on Thursday at S$4.36, down 50 cents or 10.29 per cent from Wednesday's close, with 236.44 million shares changing hands.
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