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Result on 14th Morning before market opens ....hope some update on the listing plan etc.
HVRRVH ( Date: 13-Aug-2024 15:58) Posted:
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Result on 14th Morning before market opens ....hope some update on the listing plan etc.
HVRRVH ( Date: 13-Aug-2024 15:58) Posted:
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Result on 14th Morning before market opens ....hope some update on the listing plan etc.
HVRRVH ( Date: 13-Aug-2024 15:58) Posted:
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Didn?t manage to add with the recent low of $1.09 but it?s ok, with OLAM, it may comeback to $1.09 post results, which should be today after market closed. Let?s see what?s the interim dividend amount and hopefully more update on the acquisition and IPOs.
HVRRVH ( Date: 12-Jul-2024 12:47) Posted:
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You are right the share price did not move at the time the initial deal was announced anywhere close to what the deal represented in value terms.
But I think this time the situation is different if what is rumoured actually happens because it will then represent a full exit rather than being just a see through value. By my figures (based on public info) a full sale of Agri at the same earlier price (and I would expect this deal price to be some way higher) would extinguish Olam Holdco&rsquo s entire debt and have enough left over to pay a dividend of over half of Olam&rsquo s mkt cap (leaving Olam as OFI and Ventures). I also think they would actually pay a large special dividend rather than keep it in the company because I think increasingly Temasek are driving the bus not management and they are looking for a financial return from their investment rather than continuing the business as is. The whole initial restructuring exercise into the new divisions and the various crystallisation options are all part of this process and the potential sale rather than a listing would be an acceleration of these plans.
Separately, looking back at what was said at the AGM, I suspect talks are further advanced than the &ldquo initial talks&rdquo stage leaked in the WSJ article. In retrospect, management were probably already in discussions at the time.
But I think this time the situation is different if what is rumoured actually happens because it will then represent a full exit rather than being just a see through value. By my figures (based on public info) a full sale of Agri at the same earlier price (and I would expect this deal price to be some way higher) would extinguish Olam Holdco&rsquo s entire debt and have enough left over to pay a dividend of over half of Olam&rsquo s mkt cap (leaving Olam as OFI and Ventures). I also think they would actually pay a large special dividend rather than keep it in the company because I think increasingly Temasek are driving the bus not management and they are looking for a financial return from their investment rather than continuing the business as is. The whole initial restructuring exercise into the new divisions and the various crystallisation options are all part of this process and the potential sale rather than a listing would be an acceleration of these plans.
Separately, looking back at what was said at the AGM, I suspect talks are further advanced than the &ldquo initial talks&rdquo stage leaked in the WSJ article. In retrospect, management were probably already in discussions at the time.
flylow6 ( Date: 04-Aug-2024 23:15) Posted:
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The last 1/3 proceed sale to SALIC not much movement in the share price .. even 2/3 sale goes thru .. Olam mgmt can jolly well keep the $$ to fund their debt or expansion.. it may not benefit shareholders or share price
Alignment ( Date: 02-Aug-2024 20:59) Posted:
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Fantastic news for shareholders were it to happen.
The implied Olam share price from the SALIC Olam Agri stake purchase is almost triple the current share price, but were it to be an Olam Agri IPO then you would have to apply a holding company discount to the entity even if a special div were to result. If Olam Agri were to be totally divested then the valuation would be crystallised as Olam would then almost certainly pay a very sizable special dividend indeed.
The implied Olam share price from the SALIC Olam Agri stake purchase is almost triple the current share price, but were it to be an Olam Agri IPO then you would have to apply a holding company discount to the entity even if a special div were to result. If Olam Agri were to be totally divested then the valuation would be crystallised as Olam would then almost certainly pay a very sizable special dividend indeed.
https://www.wsj.com/business/olam-mulls-sale-of-agri-business-may-delay-listing-of-food-ingredients-unit-200685d6
Meanwhile give me another 3 cents or more dividend this month will be nice.
Alignment ( Date: 02-Aug-2024 09:37) Posted:
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Aggressive move buying more Namoi shares. Here' s hoping this is a tactic resulting in a quick sale at a good profit inshallah.
Be careful! BB may complete the dumping the bottom chips at this level soon!
Saw that article, they' ll probably pass costs onto their customers, so I doubt the damage will be much
Happy with last added price at 1.14 about a month or so back. The holding pattern still persist but inching upward, probably market trying to assess the developments on a few fronts notably the acquisition and the IPOs. Meanwhile, the company has been securing large credit facilities for the subsidiaries that planning for IPOs. These could be their capitals post IPOs so the market though still seemingly waiting and seeing now, there appears to be some accumulation so let?s hope for the best.
HVRRVH ( Date: 26-Jun-2024 12:40) Posted:
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I guess there' s no harm done except wasting some time. The Australians blocking the deal should still see Olam walking away with a decent profit.
alexvar ( Date: 10-Jul-2024 22:39) Posted:
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Yet another Singaporean company suffers at the hands of the Australian authorities.
When will Singapore companies realise they are not wanted in Australia? Best for Olam to sell the stake they have built up at a decent profit and get out with a gain.
When will Singapore companies realise they are not wanted in Australia? Best for Olam to sell the stake they have built up at a decent profit and get out with a gain.
alexvar ( Date: 20-Jun-2024 17:50) Posted:
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Olam Group subsidiary ofi secures US$1.8 bil multi-tranche loan facility
Olam Group Limited&rsquo s wholly-owned subsidiary Olam Food Ingredients (ofi) has secured a US$1.8 billion ($2.44 billion) multi-tranche revolving credit facility and term loan, announced the company on June 26.
The facility comprises a two-year and three-year revolving credit facility and a three-year term loan. Proceeds from the facility will be applied towards refinancing of ofi&rsquo s existing loans and general corporate purposes.
A total of 17 banks participated in the facility across three tiers. The senior mandated lead arrangers are Citibank, DBS Bank, JPMorgan Chase Bank N.A, MUFG Bank, Natixis and the Hong Kong and Shanghai Banking Corporation (HSBC).
HSBC has been appointed as the facility agent.
The facility is initially guaranteed by Olam Group VC2 0.00% Limited, which will transfer to ofi following the planned IPO and demerger of ofi.
In August 2021, Olam announced that ofi intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore.
In August 2023, the group said it aimed to complete the IPO of Olam Agri, its agribusiness operating unit, by 1H2024, and the IPO of ofi would only proceed after Olam Agri goes public.
Ofi secured US$500 million in a separate facility back in March. The export credit agency-backed facility, comprising a five-year US$250 million tranche and a seven-year 37.38 billion yen tranche ($320 million), was backed by Italian export credit agency SACE.
Olam Agri announced on June 25 that it had secured a US$550 million revolving credit facility with a tenor of three years.
They better be very sure before the next update of IPO date. It is ok to take time but credibility at stake if constantly unable to keep to the announced date. That said, look like consolidation taking place at current level. Waiting game now.
Olam Agri obtains US$550 million loan facility
Proceeds from the facility will be used to refinance Olam Agri&rsquo s existing loans and for general corporate purposes
OLAM Group : VC2 +0.88%&rsquo s indirect 64.6 per cent-owned subsidiary, Olam Agri, has secured a loan facility of US$550 million, said the group on Tuesday (Jun 25).
The revolving credit facility, which has a tenor of three years, was obtained by Olam Agri&rsquo s subsidiaries, Olam Global Agri and Olam Global Agri Treasury.
Proceeds from the facility will be used to refinance Olam Agri&rsquo s existing loans and for general corporate purposes, said the group.
It also noted that the facility was initially guaranteed by Olam Group but it will be transferred to Olam Agri, following Olam Agri&rsquo s planned initial public offering (IPO) and demerger from Olam.
In 2020, Olam announced a reorganisation of its business to create two new operating groups, namely Olam Food Ingredients and Olam Global Agri. It also disclosed its plans to maximise long-term shareholder value via carve-out and capital-raising options, including the IPO of the two units on a sequential basis.
In January 2023, Olam said it planned to dual list Olam Agri in Singapore and Saudi Arabia, and demerge the agribusiness in the first half of the same year.
But in May 2023, the group said that it did not expect the listing to be completed in the first half of 2023 as initially planned due to delays in approval processes.
Last August, Olam said it aimed to complete the IPO of Olam Agri by the first half of 2024.
Senior mandated lead arrangers comprise Deutsche Bank, JP Morgan Chase Bank NA, Cooperative Rabobank UA, Banco Santander and Credit Agricole Corporate and Investment Bank. HSBC was appointed as the facility agent.
First foray into this stock in Sep 2023. Currently 9.96% gain including dividend and 6.68% gain without counting dividend. Only 1 dividend so far and looking forward to the next one to further boosting the returns. The price should range bound now with uncertainty in the acquisition of Namoi Cotton, with Australia regulator raising competition concern and the rival Louis Drefus holding 19% stake and said they would not sell to Olam. Last added at $1.14, would have gotten it at $1.13 with a bit of patience but regardless, as next buy is set at $1.09 or lower, if it comes to that.
Looks like Shein going to IPO in London. If so that may clear the path for an OFI IPO, which means OFI may happen before Olam Agri.