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Latest Forum Topics / Olam Intl  Post Reply
OLAM_OLAM
CheeryVGoh
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24-Jul-2021 00:13     
 
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 Alert Admin 		Looks like Mit Corp didn't sell the rights entitlement too.

shadow      ( Date: 23-Jul-2021 23:56) Posted:

Mit last time kenna from T selling Olam to them think 20% stake@ $2.75 a pc 
Once bitten twice shy maybe. And Olam never recover to that price ever since.
You think now Mit would want to pump more $ (assuming full subscription of  right shares approx  83.2m  x $1.25 a pc ) another $104m.
They are still bleeding from the investment seating on huge paper loss

sutiono      ( Date: 23-Jul-2021 22:38) Posted:

Mit also give up on the management . Monday shoud gap down.
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shadow
Veteran
24-Jul-2021 00:06     
 
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 Alert Admin 		memory refresh 
https://www.theedgemarkets.com/article/olam-sells-20-stake-mitsubishi-corp-153-bil
August 28, 2015

 

SINGAPORE (Aug 28): Japanese conglomerate Mitsubishi Corp. is acquiring a strategic stake in commodities trader Olam International  for $1.53 billion.


Under the subscription agreement, Olam will sell an aggregate of 332.73 million new shares representing 12% of the enlarged share capital to Mitsubishi at an issue price of $2.75 each, a 44% premium to the last price for Olam before trading in its shares was halted on the Singapore Exchange early Thursday.

Separately, Mitsubishi will also acquire another 222 million shares from the founding members of the Kewalram Chanrai Group, representing 8% of the enlarged share capital of Olam.

On completion of both these transactions, MC will become Olam&rsquo s second largest shareholder with a 20% shareholding in the company.

Temasek Holdings will remain Olam&rsquo s majority shareholder with a 51.4% controlling stake.

In buying the stake in Olam, the Japanese conglomerate joins its national peers in scouting out opportunities in the Asia-Pacific region and Southeast Asia, where long-term growth prospects are bright. Mitsubishi has interests including consumer goods, automobiles and food. A stake in Olam will lift the Japanese firm&rsquo s profile as a global player in the food industry.
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shadow
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23-Jul-2021 23:56     
 
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 Alert Admin 		Mit last time kenna from T selling Olam to them think 20% stake@ $2.75 a pc 
Once bitten twice shy maybe. And Olam never recover to that price ever since.
You think now Mit would want to pump more $ (assuming full subscription of  right shares approx  83.2m  x $1.25 a pc ) another $104m.
They are still bleeding from the investment seating on huge paper loss

sutiono      ( Date: 23-Jul-2021 22:38) Posted:

Mit also give up on the management . Monday shoud gap down.

shadow      ( Date: 23-Jul-2021 22:27) Posted:

SGX announcement
Mitsubishi Corporation did not subscribe for the Rights Shares entitlement. 
Contingent to the allotment and issue of the Rights Shares, the total number of issued Shares will be  554,689,829
Diluted from  17.28% to 15.03%
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sutiono
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23-Jul-2021 22:38     
 
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 Alert Admin 		Mit also give up on the management . Monday shoud gap down.

shadow      ( Date: 23-Jul-2021 22:27) Posted:

SGX announcement
Mitsubishi Corporation did not subscribe for the Rights Shares entitlement. 
Contingent to the allotment and issue of the Rights Shares, the total number of issued Shares will be  554,689,829
Diluted from  17.28% to 15.03%
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halleluyah
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23-Jul-2021 22:35     
 
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 Alert Admin 		olam kept issuing bonds yet still need $$ by issuing rights pula....vry heavy in debt....

FATABA      ( Date: 23-Jul-2021 14:18) Posted:

this right is more as stated to pay up for the loan on Olde thompson......
More so will be the comng result n everyone is watching the end /early next yr split up of its division. 
Anyway , OLam shares circulation in the market is not large ...my guess 15% .....all in the hands of few large Shareholders . 
so the distribution of its division shares to shareholders will be interesting. 
Dyodd

CheeryVGoh      ( Date: 23-Jul-2021 14:12) Posted:

Ya very low excess application.

22/06/2021 BusinessTimes article :

*** Olam also announced a 3-for-20 rights issue at S$1.25 per share. The group expects to raise S$601.7 million in gross proceeds, most of which go towards repaying a loan taken to buy spice company Olde Thompson.

Olam intends to use 90 per cent of the net proceeds to repay US$400 million of a US$1 billion loan facility related to the Olde Thompson acquisition, and the remaining 10 per cent for working capital and general corporate purposes.

Olam' s major shareholder Temasek Holdings has agreed to subscribe, or get one or more Temasek companies to subscribe, for any rights shares that are not taken up.

When asked if another substantial shareholder Mitsubishi Corporation will also be subscribing to the rights, Mr Verghese said he was unable to speak on behalf of shareholders and that they would assess the situation and " make their own determination" .

Mr Verghese said he intends to fully subscribe for his portion of the rights issue, but declined to comment on behalf of the other directors.

Looking ahead, he added that the rights issue would reward shareholders by presenting them with an opportunity to acquire shares at a " fairly attractive discount" and allowing them to participate in the company' s growth.

For its rights issue, Olam said its issue price of S$1.25 per share represents a 26.9 per cent discount to its last traded price of S$1.71 on Monday. The issue price also represents a 24.2 per cent discount to the theoretical ex-rights price per share of S$1.65. ***

 
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shadow
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23-Jul-2021 22:27     
 
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 Alert Admin 		SGX announcement
Mitsubishi Corporation did not subscribe for the Rights Shares entitlement. 
Contingent to the allotment and issue of the Rights Shares, the total number of issued Shares will be  554,689,829
Diluted from  17.28% to 15.03%
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CheeryVGoh
Supreme
23-Jul-2021 14:59     
 
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 Alert Admin 		Free Float might be smaller than 16.2% as figures might not be up-to-date.

Hope there will declare dividend for 1st Half.

 

FATABA      ( Date: 23-Jul-2021 14:33) Posted:

Not out yet on SGX website .....but I saw this ....Next Event. H1  2021 Olam  International Ltd Earnings Release Aug 09,  2021  ...  Olam
Dont know if its true . 
ANyway , mid aug is for sure LOL 

CheeryVGoh      ( Date: 23-Jul-2021 14:26) Posted:

Think the substantial shareholders didn' t apply for Excess Rights.

16.2% in circulation only.

When will the coming results be out ?

     
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FATABA
Supreme
23-Jul-2021 14:33     
 
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 Alert Admin 		Not out yet on SGX website .....but I saw this ....Next Event. H1  2021 Olam  International Ltd Earnings Release Aug 09,  2021  ...  Olam
Dont know if its true . 
ANyway , mid aug is for sure LOL 

CheeryVGoh      ( Date: 23-Jul-2021 14:26) Posted:

Think the substantial shareholders didn' t apply for Excess Rights.

16.2% in circulation only.

When will the coming results be out ?

     

FATABA      ( Date: 23-Jul-2021 14:18) Posted:

this right is more as stated to pay up for the loan on Olde thompson......
More so will be the comng result n everyone is watching the end /early next yr split up of its division. 
Anyway , OLam shares circulation in the market is not large ...my guess 15% .....all in the hands of few large Shareholders . 
so the distribution of its division shares to shareholders will be interesting. 
Dyod
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CheeryVGoh
Supreme
23-Jul-2021 14:26     
 
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 Alert Admin 		Think the substantial shareholders didn' t apply for Excess Rights.

16.2% in circulation only.

When will the coming results be out ?

     

FATABA      ( Date: 23-Jul-2021 14:18) Posted:

this right is more as stated to pay up for the loan on Olde thompson......
More so will be the comng result n everyone is watching the end /early next yr split up of its division. 
Anyway , OLam shares circulation in the market is not large ...my guess 15% .....all in the hands of few large Shareholders . 
so the distribution of its division shares to shareholders will be interesting. 
Dyodd

CheeryVGoh      ( Date: 23-Jul-2021 14:12) Posted:

Ya very low excess application.

22/06/2021 BusinessTimes article :

*** Olam also announced a 3-for-20 rights issue at S$1.25 per share. The group expects to raise S$601.7 million in gross proceeds, most of which go towards repaying a loan taken to buy spice company Olde Thompson.

Olam intends to use 90 per cent of the net proceeds to repay US$400 million of a US$1 billion loan facility related to the Olde Thompson acquisition, and the remaining 10 per cent for working capital and general corporate purposes.

Olam' s major shareholder Temasek Holdings has agreed to subscribe, or get one or more Temasek companies to subscribe, for any rights shares that are not taken up.

When asked if another substantial shareholder Mitsubishi Corporation will also be subscribing to the rights, Mr Verghese said he was unable to speak on behalf of shareholders and that they would assess the situation and " make their own determination" .

Mr Verghese said he intends to fully subscribe for his portion of the rights issue, but declined to comment on behalf of the other directors.

Looking ahead, he added that the rights issue would reward shareholders by presenting them with an opportunity to acquire shares at a " fairly attractive discount" and allowing them to participate in the company' s growth.

For its rights issue, Olam said its issue price of S$1.25 per share represents a 26.9 per cent discount to its last traded price of S$1.71 on Monday. The issue price also represents a 24.2 per cent discount to the theoretical ex-rights price per share of S$1.65. ***

 
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CheeryVGoh
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23-Jul-2021 14:21     
 
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 Alert Admin 		Should read as :

Also the free float is small,  if substantial holders had subscribed for more excess, the subscription rate should be higher.

PhillipTan      ( Date: 23-Jul-2021 13:56) Posted:

Olam rights issue 118% subscribed, raises $601.7 mil | The Edge Singapore
118% subscribed, not 118% over subscribed
Over subscribed only 18%

Not sure where the 35% excess rights being successful came from, as mentioned beng1102
I didn' t read it anywhere else

But if that is accurate, mathematically speaking it means
- 90.2% entitlement subscribed out of 100% entitlement
- 118.2% subscibed
- equates to excess application of 28%, of which 35% will be successful

That means take up rate for the entitled rights is extremely high at 90.2%
But application for excess rights is extremely low at 28%

In other words, an excess of only 4.66 shares is being applied on top of very 15 shares entitled
 

CheeryVGoh      ( Date: 23-Jul-2021 11:38) Posted:

Meaning the substantial shareholders did not subscribe as 118.2% is low take-up?

Also the free float is small,  if retail  holders had subscribed for more excess, the subscription should be higher.



 
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FATABA
Supreme
23-Jul-2021 14:18     
 
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 Alert Admin 		this right is more as stated to pay up for the loan on Olde thompson......
More so will be the comng result n everyone is watching the end /early next yr split up of its division. 
Anyway , OLam shares circulation in the market is not large ...my guess 15% .....all in the hands of few large Shareholders . 
so the distribution of its division shares to shareholders will be interesting. 
Dyodd

CheeryVGoh      ( Date: 23-Jul-2021 14:12) Posted:

Ya very low excess application.

22/06/2021 BusinessTimes article :

*** Olam also announced a 3-for-20 rights issue at S$1.25 per share. The group expects to raise S$601.7 million in gross proceeds, most of which go towards repaying a loan taken to buy spice company Olde Thompson.

Olam intends to use 90 per cent of the net proceeds to repay US$400 million of a US$1 billion loan facility related to the Olde Thompson acquisition, and the remaining 10 per cent for working capital and general corporate purposes.

Olam' s major shareholder Temasek Holdings has agreed to subscribe, or get one or more Temasek companies to subscribe, for any rights shares that are not taken up.

When asked if another substantial shareholder Mitsubishi Corporation will also be subscribing to the rights, Mr Verghese said he was unable to speak on behalf of shareholders and that they would assess the situation and " make their own determination" .

Mr Verghese said he intends to fully subscribe for his portion of the rights issue, but declined to comment on behalf of the other directors.

Looking ahead, he added that the rights issue would reward shareholders by presenting them with an opportunity to acquire shares at a " fairly attractive discount" and allowing them to participate in the company' s growth.

For its rights issue, Olam said its issue price of S$1.25 per share represents a 26.9 per cent discount to its last traded price of S$1.71 on Monday. The issue price also represents a 24.2 per cent discount to the theoretical ex-rights price per share of S$1.65. ***

 

PhillipTan      ( Date: 23-Jul-2021 14:00) Posted:

Personal feeling, that is a very low excess application made (at only 28%) from my point of view
Because I applied for 10k shares but I am only entitled to 1.2k
Lo
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CheeryVGoh
Supreme
23-Jul-2021 14:12     
 
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 Alert Admin 		Ya very low excess application.

22/06/2021 BusinessTimes article :

*** Olam also announced a 3-for-20 rights issue at S$1.25 per share. The group expects to raise S$601.7 million in gross proceeds, most of which go towards repaying a loan taken to buy spice company Olde Thompson.

Olam intends to use 90 per cent of the net proceeds to repay US$400 million of a US$1 billion loan facility related to the Olde Thompson acquisition, and the remaining 10 per cent for working capital and general corporate purposes.

Olam' s major shareholder Temasek Holdings has agreed to subscribe, or get one or more Temasek companies to subscribe, for any rights shares that are not taken up.

When asked if another substantial shareholder Mitsubishi Corporation will also be subscribing to the rights, Mr Verghese said he was unable to speak on behalf of shareholders and that they would assess the situation and " make their own determination" .

Mr Verghese said he intends to fully subscribe for his portion of the rights issue, but declined to comment on behalf of the other directors.

Looking ahead, he added that the rights issue would reward shareholders by presenting them with an opportunity to acquire shares at a " fairly attractive discount" and allowing them to participate in the company' s growth.

For its rights issue, Olam said its issue price of S$1.25 per share represents a 26.9 per cent discount to its last traded price of S$1.71 on Monday. The issue price also represents a 24.2 per cent discount to the theoretical ex-rights price per share of S$1.65. ***

 

PhillipTan      ( Date: 23-Jul-2021 14:00) Posted:

Personal feeling, that is a very low excess application made (at only 28%) from my point of view
Because I applied for 10k shares but I am only entitled to 1.2k
Lol

PhillipTan      ( Date: 23-Jul-2021 13:56) Posted:

Olam rights issue 118% subscribed, raises $601.7 mil | The Edge Singapore
118% subscribed, not 118% over subscribed
Over subscribed only 18%

Not sure where the 35% excess rights being successful came from, as mentioned beng1102
I didn' t read it anywhere else

But if that is accurate, mathematically speaking it means
- 90.2% entitlement subscribed out of 100% entitlement
- 118.2% subscibed
- equates to excess application of 28%, of which 35% will be successful

That means take up rate for the entitled rights is extremely high at 90.2%
But application for excess rights is extremely low at 28%

In other words, an excess of only 4.66 shares is being applied on top of very 15 shares entitled
 
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PhillipTan
Supreme
23-Jul-2021 14:00     
 
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 Alert Admin 		Personal feeling, that is a very low excess application made (at only 28%) from my point of view
Because I applied for 10k shares but I am only entitled to 1.2k
Lol

PhillipTan      ( Date: 23-Jul-2021 13:56) Posted:

Olam rights issue 118% subscribed, raises $601.7 mil | The Edge Singapore
118% subscribed, not 118% over subscribed
Over subscribed only 18%

Not sure where the 35% excess rights being successful came from, as mentioned beng1102
I didn' t read it anywhere else

But if that is accurate, mathematically speaking it means
- 90.2% entitlement subscribed out of 100% entitlement
- 118.2% subscibed
- equates to excess application of 28%, of which 35% will be successful

That means take up rate for the entitled rights is extremely high at 90.2%
But application for excess rights is extremely low at 28%

In other words, an excess of only 4.66 shares is being applied on top of very 15 shares entitled
 

CheeryVGoh      ( Date: 23-Jul-2021 11:38) Posted:

Meaning the substantial shareholders did not subscribe as 118.2% is low take-up?

Also the free float is small,  if retail  holders had subscribed for more excess, the subscription should be higher.



 
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PhillipTan
Supreme
23-Jul-2021 13:56     
 
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 Alert Admin 		Olam rights issue 118% subscribed, raises $601.7 mil | The Edge Singapore
118% subscribed, not 118% over subscribed
Over subscribed only 18%

Not sure where the 35% excess rights being successful came from, as mentioned beng1102
I didn' t read it anywhere else

But if that is accurate, mathematically speaking it means
- 90.2% entitlement subscribed out of 100% entitlement
- 118.2% subscibed
- equates to excess application of 28%, of which 35% will be successful

That means take up rate for the entitled rights is extremely high at 90.2%
But application for excess rights is extremely low at 28%

In other words, an excess of only 4.66 shares is being applied on top of very 15 shares entitled
 

CheeryVGoh      ( Date: 23-Jul-2021 11:38) Posted:

Meaning the substantial shareholders did not subscribe as 118.2% is low take-up?

Also the free float is small,  if retail  holders had subscribed for more excess, the subscription should be higher.



 

beng1102      ( Date: 23-Jul-2021 09:22) Posted:

118% over subscribed.  35% of excess rights is successful, so chance of getting more shares at $1.25
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CheeryVGoh
Supreme
23-Jul-2021 11:38     
 
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 Alert Admin 		Meaning the substantial shareholders did not subscribe as 118.2% is low take-up?

Also the free float is small,  if retail  holders had subscribed for more excess, the subscription should be higher.



 

beng1102      ( Date: 23-Jul-2021 09:22) Posted:

118% over subscribed.  35% of excess rights is successful, so chance of getting more shares at $1.25.

beng1102      ( Date: 15-Jul-2021 14:44) Posted:

No harm trying
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beng1102
Elite
23-Jul-2021 09:22     
 
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 Alert Admin 		118% over subscribed.  35% of excess rights is successful, so chance of getting more shares at $1.25.

beng1102      ( Date: 15-Jul-2021 14:44) Posted:

No harm trying.

rainbowman      ( Date: 15-Jul-2021 14:29) Posted:

Likely they just give enough excess to round up the odd shares...lo
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beng1102
Elite
15-Jul-2021 14:44     
 
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 Alert Admin 		No harm trying.

rainbowman      ( Date: 15-Jul-2021 14:29) Posted:

Likely they just give enough excess to round up the odd shares...lol

beng1102      ( Date: 15-Jul-2021 13:39) Posted:

I applied for more excess rights.  If can get 100% haut ah
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rainbowman
Senior
15-Jul-2021 14:29     
 
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 Alert Admin 		Likely they just give enough excess to round up the odd shares...lol

beng1102      ( Date: 15-Jul-2021 13:39) Posted:

I applied for more excess rights.  If can get 100% haut ah!

beng1102      ( Date: 15-Jul-2021 13:19) Posted:

Ok.  Thanks.  Finally managed to raise the limit and transfer the sum including excess rights
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beng1102
Elite
15-Jul-2021 13:39     
 
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 Alert Admin 		I applied for more excess rights.  If can get 100% haut ah!

beng1102      ( Date: 15-Jul-2021 13:19) Posted:

Ok.  Thanks.  Finally managed to raise the limit and transfer the sum including excess rights.

PhillipTan      ( Date: 15-Jul-2021 10:32) Posted:

Maximum limit is $200k
So unless you are planning to pay more than that amount, it should go throug
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beng1102
Elite
15-Jul-2021 13:19     
 
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 Alert Admin 		Ok.  Thanks.  Finally managed to raise the limit and transfer the sum including excess rights.

PhillipTan      ( Date: 15-Jul-2021 10:32) Posted:

Maximum limit is $200k
So unless you are planning to pay more than that amount, it should go through

beng1102      ( Date: 15-Jul-2021 10:18) Posted:

Unfortunately the transaction limit is not sufficient for the rights and can' t seem to find way to increase the limit
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