Temasek acquires Olam shares in open market
Temasek Holdings has raised its stake in commodity trader Olam International to 17 per cent.
The news sent Olam shares up 3 per cent to $1.515 in mid-day trading.
In a filing with the Singapore Exchange today, Temasek disclosed it bought 200,000 shares for S$293,000 on Tuesday through its investment vehicle Aranda Investments.
Olam shared climbed nearly 6 per cent yesterday after the company unveiled the timeline for its proposed rights issue.