Temasek Holdings Pte, Singapore's state-owned investment company, raised its stake on Tuesday in Olam International Ltd (OLAM) after earlier this month saying it would back the commodity trader's bond offering.
Aranda Investments Pte, controlled by Temasek, bought 200,000 shares for S$293,000 (US$240,598) on Tuesday, according to an Olam filing. Temasek's deemed interest rose to 17% from 16.99%, it said.
Olam, the world's second-biggest rice trader, said Dec 3 it will offer $750 million in bonds and as much as $500 million in warrants to address any concerns about its liquidity, after short-seller Carson Block said the company may fail. Temasek, Olam's second-biggest shareholder, agreed to buy any rights not taken up by other investors.
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