olams-biggest-shareholder-sells-64-to-set-up-charity

Olam's biggest shareholder sells 6.4% to set up charity

The Kewalram Chandrai Group raises close to $200 million after pricing the offering at the top.
The controlling shareholder of agricultural products supply chain manager Olam International last night raised S$300 million $198 million from a placement of existing shares in the company, which it was able to price at the top of the indicated range.

According to sources, the money will be used to set up a charity.

The Kewalram Chandrai Group, which established Singapore-listed Olam in 1989, offered 100 million shares at a discount of 2% to 6% to ThursdayÆs close of S$3.06, which translated to an actual price range of S$2.88 to S$3 per share. The early indication after the order book closed at about 10pm Hong Kong time was that the deal would price around the mid-point...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222