The company announced in 2020 a plan to split its food business from the rest of its commodities trading. The move is a reflection of growing recognition of the value of tapping into demand for specialty products from consumers who have become increasingly picky about the ingredients and origins of what they eat.
Chief Executive Officer of Olam,
"In terms of the size of the IPO, it's too early to announce what that would be," Verghese said in an interview. "Given the size and scope of the OFI business, it would be a substantial IPO in whichever jurisdiction we list it."
Verghese said the company is yet to determine the venue for the listing and will consider all available options to maximize value for new and existing shareholders.
"Our objective and criteria on which exchange or location to choose is going to be guided by where the OFI business model is likely to be fully understood," he told Bloomberg on Friday.
Olam's shares fell as much as 3.1% in
Olam was founded in 1989 and listed on the
The group expects the separation of the two units to be completed by the end of 2021. Olam Food Ingredients offers sustainable, natural, value-added food products and ingredients comprising cocoa, coffee, edible nuts, spices and dairy. It also own farms, farm-gate origination and manufacturing facilities.
The other unit - Olam Global Agri, supplies food, feed and fiber focusing on emerging markets in
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