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Bond Market News

Olam’s OFI to Delay IPO on Russia-Ukraine Conflict

Olam Group’s food ingredients unit Olam Food Ingredients (OFI) has delayed its initially planned IPO in Q2 2022. It cited the market conditions on the back of the Russia-Ukraine crisis as the reason for the delay. OFI added it will continue to look at when it plans to time the IPO “taking into account prevailing market conditions”. The IPO was planned after Olam got approval from bondholders in early February to restructure the Singapore-listed agri-business into OFI, Olam Global Agri and Olam International, and the carve-out, separation, demerger and IPO of OFI.

Olam’s bonds were flat with its SGD 5.5% Perp at 99.98, yielding 5.51%.

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