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CEOs of Olam, Uni-Asia and independent director of Dyna-Mac raise stakes in respective companies

The Edge Singapore
The Edge Singapore6/2/2022 10:35 AM GMT+08  • 4 min read
CEOs of Olam, Uni-Asia and independent director of Dyna-Mac raise stakes in respective companies
Olam's co-founder and CEO Sunny George Verghese led the re-structuring of the company to unlock value for shareholders / Photo: The Edge Singapore
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Sunny George Verghese, co-founder and group CEO of Olam Group, has increased his stake in the agri-commodities player. On May 27, Verghese acquired 500,000 shares at about $1.47 each. On May 31, he acquired another 500,000 shares at $1.53 each. The acquisitions bring his direct stake in the company to nearly 164.52 million shares or 4.281%, up from 4.255% previously.

According to regulatory filings, the last time Verghese had bought shares from the open market was back on March 18, 2020, when he acquired 615,000 shares for $1.49 each.

Olam recently completed the re-organisation of itself into three distinct parts to unlock value for shareholders. The first unit Olam Food Ingredients (OFI) will focus on the growing demand for plant-based, sustainably-sourced and fully-traceable food ingredients. OFI is eyeing its own listing in London before a secondary listing in Singapore.

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