Olam at three-year high after Temasek stake boost

SINGAPORE (Oct 11): Shares in Olam International are hovering at a three-year high, rising 0.5% to $2.24 on Wednesday to bring the week's rise to 4.7%.

The rise follows a move by Temasek Holdings last Friday to boost its stake in the commodities supplier and trader.

In a response on Monday after an unusual trading activity query by the Singapore Exchange, Olam said Singapore state investor now owns a 57% stake in the group from 52% previously after converting its warrants into 282 million shares.

---

Related Stories

• Testing QA Temasek-linked stocks and their valuation
• Temasek-backed UST seeks to raise at least US$500 million in IPO
• Norway wealth fund has first underperformance in five years

---