Skip to content Skip to Search
Skip navigation

Olam unit’s Singapore and Saudi listing likely in 2024 

By Pramod Kumar
Olam Agri
Olam Group reported a profit of S$48 million ($35.6 million) for H1 2023, down 88.8 percent from S$429.1 million a year ago

Singapore-based commodity trader Olam Group is targeting the dual listing of its agricultural unit in Singapore and Saudi Arabia by the first half of 2024, according to CEO Sunny Verghese.

“Olam Agri continues to target a first-of-its-kind dual-listing in Singapore and Saudi Arabia by H1 2024, subject to receiving all requisite approvals and prevailing market conditions,” he added.

In May, the company said it was not expecting the $1 billion dual listing to be completed as initially planned in the first half of this year as it was still waiting to receive regulatory approvals from Saudi Arabia.

Ofi – the food ingredient unit – will list in London and Singapore, Verghese said, adding the company is reconfiguring its portfolio for the remaining group while investing and developing its future growth engines.

Olam Group reported a profit of S$48 million ($35.6 million) for the six months ended June 30, down 88.8 percent from S$429.1 million a year ago.

Olam Group declared an interim dividend of 3 Singapore cents, compared with 4 Singapore cents a year earlier.

Latest articles

Investment talks. Dubai reported 1,650 FDI projects in 2023

Dubai tops ‘greenfield’ FDI ranking for third year

Dubai is the world’s top location for “greenfield” foreign direct investment for the third consecutive year, according to fDi Markets. A total of 1,070 greenfield FDI projects, where a company sets up in a foreign country, building its facilities from the ground up, were reported in Dubai in 2023. This was more than double the […]

Qatar LNG

Qatar bullish on LNG as it plans increased production

Qatar’s energy minister said he is bullish on global demand for liquefied natural gas and his country is likely to push its production levels beyond those already targeted for 2030. “Technical capability is going to be assessed, and if there is more [gas], we probably will do more,” Saad Sherida Al Kaabi said at the […]

Bayanat says its AID data platform provided information to authorities during April's flooding in Dubai

Bayanat increases funding for climate disaster R&D

Geospatial services provider Bayanat has increased its investment into climate disaster research and development following a strong profit rise in the first quarter of 2024. Abu Dhabi-based Bayanat said gross profit for the first quarter reached AED32 million ($8.7 million), representing a gross margin of 28 percent. Revenues were 12 percent up to AED113 million.  […]

RwandAir CEO Yvonne Manzi Makolo said in Doha: 'Addis is already a huge hub but Kigali will be an alternative regional hub, especially given the geographical position of Rwanda'

Qatar and Rwanda to open airport in ‘heart of Africa’ by 2028

Qatar Airways and RwandAir will open a major international airport in Rwanda’s capital Kigali by 2028, the airlines said this week. The Qatari flag carrier has also announced plans to take a stake in a southern African airline to cement its expansion plans on the continent.  RwandAir and Qatar Airways, which have a code-sharing agreement, […]