Share trading to resume in commodity trader Olam

Singapore commodities trader Olam International said trading in its shares will resume at 1530 local time after trading was halted following attacks by short-seller Muddy Waters which media reports said questioned the way Olam keeps its books.

Olam, nearly 16 percent-owned by state investor Temasek Holdings, accused Muddy Waters founder Carson Block of making “baseless and unsubstantiated assertions” against it.

Olam’s U.S. shares fell 21% in after-hours trading following media reports of Block’s comments. On Monday, Olam’s Singapore shares closed at $1.74, the lowest in five months and down 18% so far this year in a broader market up 12%.