Olam International has raised $601.7 million in gross proceeds through its right issue, with a total of 482.4 million shares to be issued at $1.25 per share.

The company had announced the three-for-20 rights issue on June 22, to be fully sub-underwritten by major shareholder Temasek.

In a filing to the Singapore Exchange on July 22, Olam disclosed that the rights issue was subscribed by 118.2%.

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