Hot stock: Olam surges to record high on potential agribusiness stake sale
Saudi Agricultural & Livestock Investment Company now holds a 35.4% minority stake in Olam Agri after investing US$1.24 billion in the unit
Add BT as a preferred source
SHARES of Olam Group touched a new record price after the group announced that a state-owned Saudi investment firm had made a non-binding indicative offer for the group’s remaining stake in Olam Agri.
As at 1.36pm on Friday (Nov 1) the counter jumped 16.8 per cent or S$0.18 to S$1.25, its highest share price since September 2023. The last time Olam nearly reached such a level was when it hit an intra-day high of S$1.24 on Aug 13, 2024.
It later eased to trade at S$1.21 by 3.47pm, up S$0.14 or 13.1 per cent, with 12.1 million shares transacted.
TRENDING NOW
What makes a good job? Feeling that you matter
Faishal Ibrahim resigns over online messages with a female member of the public
When the disruptor gets disrupted: How Chinese open-source AI is eating its own industry
Retail resets: Mall owners reposition shopping centres as Singapore’s consumer landscape evolves
