London and Singapore
- olam food ingredients (“ofi”) is on track for an IPO in H1 2022
- ofi intends to pursue a primary listing on the premium segment of the London Stock Exchange (“LSE”), and a concurrent listing on the Singapore Exchange (“SGX”)
- ofi delivered strong performance in the first six months of 2021, providing good momentum going into 2022
- ofi continues to accelerate its growth strategy and completed transformational acquisitions during the period
Olam International Limited (“Olam”) today announces that its operating group, ofi, a global leader in natural and sustainable food ingredient solutions, intends to seek a primary listing on the premium segment of the London Stock Exchange. ofi will concurrently seek a listing in Singapore.
ofi was created in early 2020 following a re-organisation of Olam to unlock and maximise Olam’s long-term value, including an IPO and concurrent demerger by the first half of 2022.
ofi works with some of the world’s best-known food and beverage brands, food manufacturers, retailers, and food service outlets, as well as several niche and premium regional players. ofi has established market-leading positions across a range of on-trend, natural and plant-based products, delivering sustainable and innovative solutions to consumers across the world.
With deep-rooted presence in the countries where the raw materials for its cocoa, coffee, dairy, nuts, and spices ingredients are produced, ofi has built sustainability and traceability into its core business model, enabling better quality and more reliable and transparent supply. ofi has a unique global scale and presence across the value chain to deliver delicious and nutritious food ingredients and solutions in an environmentally sustainable way.
In 2020, ofi generated annual revenues of US$9.1 billion (S$12.5 billion) and EBIT of US$0.6 billion (S$0.8 billion). Olam’s 2021 Interim Results announced today demonstrate the strong and resilient performance for ofi in the first six months of the year, providing it with good momentum going into 2022. The release can be found in full here.