The Business Times
business-time-50

Hot stock: Olam surges after investigations show no involvement in US$50 billion Nigerian fraud

Michelle Zhu

Michelle Zhu

Published Mon, Feb 19, 2024 · 08:14 AM
    • Olam Group says all its businesses in Nigeria “continue to operate normally”.
    • Olam Group says all its businesses in Nigeria “continue to operate normally”. PHOTO: REUTERS

    SHARES of Olam Group soared on Monday (Feb 19) after the group announced it recently concluded investigations into Olam Nigeria, which turned up no evidence of involvement in a multibillion-dollar fraud.

    The stock closed at S$1, up S$0.12 or 13.6 per cent, as more than 10.4 million shares worth about S$10.4 million changed hands over the course of the day.

    No married deals took place, ShareInvestor data indicated.

    OlamAgriculture/FarmingFood industryFraud

    TRENDING NOW

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    Asian investors continue to allocate capital to global markets, while maintaining significant exposure to US assets. 

    Despite the de-dollarisation debate, demand for dollar liquidity in Asia is growing

    Buying a new EC unit can be a cost-effective way to get into private homeownership.

    Can a first-time homebuyer couple earning S$18,000 a month afford a new EC unit?

    The Golden Violet oil tanker docked at a PT Pertamina facility in Tanjung Priok Port in Jakarta, Indonesia. Asia’s new energy security architecture should have a support mechanism to help Asian countries build emergency oil reserves through financing and technical assistance.

    Asia needs new energy security architecture

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More