Singapore-based agri-food group Olam International has said it is in talks on “corporate development opportunities” after its shares rose sharply, prompting a stock market request for information.
The Singapore Stock Exchange asked Olam to comment on trading activity in the company’s shares yesterday (11 November). Olam’s shares closed up over 5%.
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Olam said it was in discussions but did not disclose the nature of the negotiations. Officials at Olam were not available for comment at the time of writing.
“The company constantly explores and reviews corporate development opportunities which are in line with its corporate growth strategy. Some of these are in the nature of acquisitions, divestments and joint ventures. The company is currently in discussions with various parties on some of these opportunities,” Olam said in its statement to the Singapore Stock Exchange.
“These opportunities are at various stages; no definitive agreements have been signed at this time and there is no certainty that any of them will materialise.”
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