Olam International Limited (SGX:O32) is considering raising about £2 billion ($2.8 billion) through the IPO of its food ingredients unit in London, which is set to take place next year, sources familiar with the matter told Reuters on August 13, 2021. The company has appointed five global banks on the IPO, which is likely to rank among the biggest such offerings in London in the last few years, the sources said. Olam declined to comment on the fundraising amount but said on August 13, 2021 that it would seek a primary listing for its food ingredients business in London and a concurrent secondary listing in Singapore by the first half of next year. Two of the sources said Olam had appointed Citigroup, Credit Suisse, HSBC, JPMorgan and Morgan Stanley to work on the IPO. Citi and JPMorgan declined to comment and there was no immediate response from the other banks.