Olam's free float back above 10% mark

GLOBAL commodities trader Olam International announced late Monday that the company's free float has been restored to 10.27 per cent, after the vesting and release of restricted share awards and performance share awards granted under the Olam Share Grant Plan.

A total of some 11.04 million shares were released today, Olam said, consisting of 855,394 shares released to non-public shareholders and 10,183,883 shares released to public shareholders.

Back on Nov 17, 2017, Olam announced that as a result of the issuance of new shares, the percentage of its shares held in public hands had fallen below 10 per cent to approximately 9.31 per cent.

The counter closed two Singapore cents down to S$2.32 on Monday.