Olam Agri's Singapore- #Saudi $1 bln dual listing may launch as early as June - sources | Reuters

Olam Agri's Singapore-Saudi $1 bln dual listing may launch as early as June - sources | Reuters

Agri-food giant Olam Group (OLAG.SI) aims to launch in June the dual initial public offering (IPO) of its agricultural unit that could raise up to $1 billion in Singapore and Saudi Arabia, two sources with knowledge of the matter said.

The IPO, the first of such a dual listing in the world, is subject to regulatory approval, one of the sources added.

The sources could not be named as the information was not yet public.

Most of the IPO's processes have been completed, ranging from hosting global roadshows to getting indicative commitments from anchor investors, one of the sources added.

Olam declined to comment.

The dual IPO on the stock exchanges of Singapore and Saudi Arabia would make Olam Agri the first company to list in both countries and also the first non-Gulf Cooperation Council incorporated business to list in Saudi Arabia.