Olam to list new food ingredients unit first: CEO
He says IPO of OFI likely to come first in two years, followed by that of agri unit
Anita Gabriel
Singapore
AGRI-FOOD behemoth Olam International Ltd's (OIL) big reshuffle could see the listing of the food ingredients unit first in two years, followed a year later by the agricultural supply business with the parent owning 75-80 per cent of the carved-out entities post initial public offering, said the group's head honcho.
"If one goes by scale, the chances are that we will first list OFI (Olam Food Ingredients) which is bigger and then soon after, we will list OGA (Olam Global Agri). Both have attractive growth prospects, the relevant scale (in terms of market capitalisation) and are listable but have slightly different margin return profiles," said Olam International's chief executive Sunny Verghese.
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