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

Michelle Zhu

Published Mon, Feb 19, 2024 · 08:14 AM

SHARES of Olam Group : VC2 0% 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.