Olam International Ltd. (OLAM), criticized by Muddy Waters LLC for its spending, said it will continue to raise debt to fund expansion as the company defends its reputation against the short seller in its first ever lawsuit.
Shares of Olam, whose second-biggest shareholder is Singapore’s state-investment company Temasek Holdings Pte, fell 1.8 percent to S$1.63 at 9:03 a.m. in Singapore trading. The stock has declined 6.3 percent in Singapore since Block’s comments on Nov. 19. Full story
