Friday, 28 December 2012

Jim Rogers to Buy Olam Shares in Rights Offer

Dec. 28 (Bloomberg) -- Rogers’s Olam holding quite small,
Straits Times says, citing Rogers.
* Rogers said that while short-selling plays important role in
the market, short-sellers frequently wrong, according to
report
* NOTE: Olam plans to offer $750 million in bonds and as much
as $500 million in warrants to address concerns about co.’s
liquidity after short-seller Carson Block said co. may fail.
Temasek could end up holding as much as 29% of co. if it
exercises all warrants in 2016 at earliest, according to
Olam CEO Sunny Verghese.

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