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Olam says can operate for 18 months without access to debt market
November 20, 2012 / 10:56 AM / 5 years ago

Olam says can operate for 18 months without access to debt market

SINGAPORE, Nov 20 (Reuters) - Singapore commodities firm Olam International said on Tuesday it could fund operations for 18 months if it got shut out of debt markets as a result of allegations over its accounting by short-seller Muddy Waters.

On a conference call with media and analysts, company officials also said Olam would consider share buybacks if it felt its share price was at unfairly low levels.

Muddy Waters founder Carson Block questioned Olam’s accounting practices at a conference in London on Monday, sending Olam shares tumbling as much as 11 percent in heavy volume in Singapore trading. (Reporting by Kevin Lim)

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