Re-organisation of Olam: Next steps
Re-organisation of Olam: Next steps
ofi
make it real
Plan primary listing on the premium
segment of LSE and a concurrent
listing in Singapore¹ to take place
following the Olam Agri IPO, subject
to prevailing market conditions.
Olam Agri
Plan dual listing of Olam Agri as early as H1 2023 with
primary listing on mainboard of SGX and a possible
concurrent listing on the Saudi Exchange of the Kingdom
of Saudi Arabia, subject to prevailing market conditions
We are aiming for an IPO size of approximately US$600-
700 million in primary proceeds and US$300-400 million
in secondary proceeds, subject to market conditions and
other relevant factors.
Olam Agri is planning a target dividend payout ratio of up
to 50% of profits after tax attributable to its
shareholders, to be paid semi-annually. This is consistent
with its target to achieve a net gearing ratio of
approximately 2.0 times net debt to equity or 1.0 time
on adjusted net debt to equity basis, after adjusting net
debt for readily marketable inventories and secured
receivables.
Olam
Olam
Remaining Olam Group
On completion of Olam Agri, ofi IPOs, the Group
will remain listed on the SGX with OGH, Olam
Ventures and MindSprint as its businesses.
Continue to responsibly divest
de-prioritised assets marked for exit and
partially/fully monetise gestating assets to
reduce leverage.
Evaluate various strategic options for Olam
Ventures and MindSprint.
'Any listing and demerger, including the timing, venues and other terms thereof, are subject to inter alia prevailing market conditions, all requisite approvals and clearances from regulatory authorities, and relevant approvals of shareholders. It is also
subject to final decision by Olam Group board. Shareholders should note that there is no certainty or assurance that the listing and demerger of Olam Agri and ofi will take place.
Extraordinary General Meeting | March 29, 2023
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