The deliberations are ongoing and details of the listing could change, the people said. A representative for Olam said the company continues to focus on executing its reorganisation plan and will make a public announcement about any material developments. Spokespeople for the banks declined to comment.
Olam Group Ltd. has picked banks to lead a planned Singapore listing of its agribusiness unit that could raise as much as US$1 billion ($1.34 billion), people familiar with the matter said.
The company selected Citigroup Inc., DBS Group Holdings Ltd., HSBC Holdings Plc and Morgan Stanley to arrange the planned initial public offering of Olam Agri Holdings Pte, according to the people. It’s aiming to complete the share sale later this year, the people said, asking not to be identified because the information is private.
