“We will have to wait for some time because the deal will only be completed before the end of the year. The new shareholders will have to join us, understand the business and feel comfortable with it before we can effectively launch the IPO,” said Verghese.
It could potentially take two years before Olam is able to effectively launch the initial public offering (IPO) and demerger of its operating unit Olam Agri Holdings, its co-founder and group CEO Sunny Verghese said in a briefing today.
This follows an earlier announcement that Saudi Agriculture and Livestock Investment Company is acquiring an estimated 35.4% substantial minority stake in Olam Agri for US$1.24 billion.
