August 13, 2021

SINGAPORE (Reuters) – Olam International, one of the world’s biggest agricultural commodity traders, is looking to raise about 2 billion pounds ($2.76 billion) through the IPO of its food ingredients unit in London, which is set to take place next year, sources familiar with the matter told Reuters on Friday.

The company, which is backed by Singapore state investor Temasek Holdings and Mitsubishi Corp has appointed five global banks to work on its IPO, which is likely to rank among the biggest IPOs in London in the last few years, the sources said.

Olam declined comment on the fundraising amount but said on Friday that it would seek a primary listing for its food ingredients business in London and a concurrent secondary listing in Singapore by the first half of next year.

($1 = 0.7242 pounds)

(Reporting by Anshuman Daga and Aradhana Aravindan; Editing by Kim Coghill)

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