Olam Agri Singapore-Saudi dual listing could raise US$1bil, say sources

SINGAPORE, Jan 10 (Reuters): Olam Group plans to list its agricutural unit in Singapore and Saudi Arabia as early as the first half of this year in the first such dual listing, it said on Tuesday, with two sources telling Reuters it could raise up to US$1 billion.

The move comes after the Singapore-based commodity trader sold a 35.4% stake in its Olam Agri unit last year for $1.24 billion to Saudi Agricultural and Livestock Investment Co, a unit of Saudi's sovereign wealth fund Public Investment Fund.