The team’s Jan 20th note says that AWL has to ensure it has a 25% public shareholding spread within three years of its listing as part of its listing requirements specified to the Bombay Stock Exchange. This spread is currently at 12% and AWL has until February to meet the rule.
RHB Bank Singapore says that the exit of Adani Group from the Adani Wilmar (AWL) joint venture could have a “slight” negative initial impact on Wilmar International (SGX:F34
) ’s earnings, however, longer-term growth prospects related to the demand for edible oil, and FMCG are positive.
The RHB Singapore research team keeps its “neutral” call on Wilmar with an unchanged target price of $3.10, as WIlmar absorbs Adani Wilmar JV as its subsidiary.
