Wilmar clears up the issue on 9% share price jump

SGX was intrigued about the price leap.

The agribusiness group’s recent fluctuation in share price caused the local bourse to ask about what prompted the jump.

According to OCBC, Wilmar clarified that the nearly 9% share price jump was a result of its substantial shareholder Archer-Daniels-Midland (ADM) raising its stake in the company.

“ADM made purchases representing some 22% of the total volume of WIL traded on the SGX yesterday,” OCBC said.

OCBC said Wilmar explained that it will be updating the shareholding of ADM in due course.

“ADM held an 18% stake as of Mar 2015 according to Bloomberg data,” OCBC said.

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