Statement From Olam International Limited On Temasek’s Placement Of Olam Shares
“We have been informed that Temasek Holdings, through its wholly owned subsidiary Seletar Investments, has successfully completed the placement of its entire shareholding in Olam International of 75.54 million shares to a broad base of institutional investors at S$1.57 per share, raising total proceeds of S$118.6 million. We are pleased to note that there was good demand and takeup for this offer from institutional investors.
We believe that the disposal is part of Temasek’s active portfolio management strategy and is in pursuit of their objective to monetize value in their investee companies as a financial investor. We also believe that Temasek is a satisfied shareholder and has achieved excellent returns on their original investment in Olam.
As a result of Temasek’s disposal, Olam’s free float has increased from 28.75% to 33.72%. The improved liquidity and broadened institutional investor base are expected to benefit all Olam shareholders.
At this juncture, we would like to place on record, the significant contribution made by Temasek in both our strategy formulation and governance process through their active involvement in our Board.
We have built a good and mutually beneficial relationship with Temasek and would seek its future participation in potential transactions that Olam may pursue.”
