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

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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

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