Olam shares rise 8% following regulatory approval to divest partial stake of agribusiness unit

[SINGAPORE] Shares of Olam Group rose more than 8 per cent on Thursday (Apr 16) morning, after it secured regulatory approval to sell 44.58 per cent of its agribusiness unit – Olam Agri – to a Saudi fund.

As at 9.03 am, the counter was trading at S$0.95, up by around 5.7 per cent. It later eased to S$0.94 at 9.38 am, before reaching an intra-day high of S$0.965 at 9.52 am, up 8.4 per cent or S$0.075.

This is the first of two tranches in Olam’s planned US$2.6 billion disposal of its remaining 64.57 per cent stake in Olam Agri to Saudi Agricultural and Livestock Investment Company (Salic).

A bourse filing noted that the divestment of the 44.58 per cent stake for US$1.8 billion was expected to have been completed in the fourth quarter of 2025 – subject to shareholder and regulatory approvals. It will bring Salic’s interest in Olam Agri to 80.01 per cent, up from 35.43 per cent.

Additional reporting by Therese Soh