Olam raises S$712.5m through rights issue

Bonds and warrants issuance set for Jan 29.

In a release, Olam International Limited announced that at the close of the Rights Issue on 21 January 2013, valid acceptances and excess applications were received for 826,855,759 Bonds with Warrants. Accordingly, the Company has, pursuant to the Rights Issue, raised gross proceeds of S$712.5 million.

The valid acceptances and excess applications received include 141,629,823 Bonds with Warrants subscribed for and/or for which subscriptions were procured by the Undertaking Shareholders in accordance with the Undertakings, comprising their respective pro-rata entitlements to the Bonds with Warrants.

Valid acceptances for the Bonds with Warrants and application for excess Bonds with Warrants were received for 685,225,936 Bonds with Warrants from non-Undertaking Shareholders.

Olam said the Bonds and Warrants are expected to be issued on 29 January 2013 and listed and quoted on the Main Board of the SGX-ST with effect from 9.00 a.m. on 31 January 2013. Completion of the issue of the Bonds and the Warrants will be announced via SGXNET in due course.

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