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Singapore's Olam eyes IPO of two new groups in business reshuffle

CEO says commodity trader aims to complete process within three years

Olam International CEO Sunny Verghese speaks at a briefing on Jan. 20 in Singapore. (Photo by Kentaro Iwamoto)

SINGAPORE -- Singapore-listed commodity trader Olam International said Monday it is considering an initial public offering of two new business groups that it will create as part of an organizational reshuffle.

The move to raise capital from outside investors is part of an effort to raise the company's corporate value, co-founder and CEO Sunny Verghese said in a briefing to media and analysts the same day. The reshuffle will fold its 12 business units into two larger groups, one focused on global agribusiness and the other on food ingredients. 

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