Adani Group’s exit from the Adani Wilmar (AWL) JV between Adani and Wilmar (SGX:F34) – each hold a 44% stake – will result in AWL becoming a subsidiary of the latter group.
- Read this at SGinvestors.io -
Adani Wilmar public spread issue resolved.
As part of listing requirements specified by the Bombay Stock Exchange, within three years of its listing, Adani Wilmar has to ensure it has a 25% public shareholding spread.
Currently, this spread is at 12%. Adani Wilmar was listed in 2022, and has until February to meet the rule.
To comply with the listing requirements, Adani Group is divesting its entire 44% stake in the JV via a 2- pronged strategy.
To exit Adani Wilmar (AWL) – First, an offer-for-sale (OFS)...
- Read this at SGinvestors.io -
So far, 13.5% has already been transacted through the OFS mechanism, with no further details on the retail buyers.
...then, a partial stake sale to Wilmar.
Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research. Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
