Olam expects delay in IPO of its meals elements unit

SINGAPORE: Singapore-based commodity dealer Olam Group Ltd mentioned on Thursday it doesn’t anticipate the IPO of its meals elements unit to happen as initially deliberate in the course of the second quarter.

The corporate had introduced plans in August for Olam Meals Substances to pursue a major itemizing in London, in an IPO that sources mentioned may elevate about 2 billion kilos. This may have made it one of many largest London IPO in years.

Attributable to present market circumstances on account of the continuing battle in Ukraine, Olam mentioned it doesn’t anticipate the unit’s IPO to happen in the course of the second quarter. (https://bit.ly/3wvvd4W)

Globally, many firms have delayed debt and fairness fundraising plans amid unstable markets because the Russia-Ukraine disaster as buyers fear in regards to the impression of souring inflation, rising rates of interest and weaker financial development.

Olam had additionally deliberate for a secondary itemizing of its meals elements unit in Singapore within the first half of 2022.- Reuters


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