In January 2020, the company announced a restructuring to “unlock value” for shareholders. This involved organisational restructuring of its business units as well as divestments of businesses and assets. The company is now segmented into three units: Olam Food Ingredients (ofi), Olam Agri and Rest of Olam Group (ROG).
Few companies are as enigmatic as food and agriculture platform Olam Group. Surviving a negative report from short-seller Muddy Waters, the company received a vote of confidence when Temasek made a voluntary general offer of $2.23 per share in 2014, which resulted in the sovereign wealth fund and concerted parties emerging with an 80% stake. Mitsubishi Corporation acquired around 20% of Olam at $2.75 per share in 2015, while Temasek pared its holdings to slightly above 50% by 2020.
Since August 2014, Olam’s share price has trended down from $2.60 to below 85 cents. Along the way, it was removed from the Straits Times Index, of which it was a constituent.
