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- Rural Funds Group (RFF) successfully completes the institutional component of its entitlement offer and raises $30 million
- Just yesterday, the company announced it is looking to raise $100 million for macadamia developments, cattle acquisitions and water transactions
- Under the institutional component, participants received one new unit for every 8.4 held at $2.47
- Rural Funds will now undertake the retail component to raise the remaining $70 million on the same terms as the institutional component
- Rural Funds is down 2.55 per cent on the market with shares trading at $2.52 at 2:48 pm AEST
Rural Funds Group (RFF) has successfully completed the institutional component of its entitlement offer and raised $30 million.
Just yesterday, the company announced it is looking to raise $100 million for macadamia developments, cattle acquisitions and water transactions.
Under the institutional component, participants received one new unit for every 8.4 held at $2.47.
The institutional entitlement offer was well supported by shareholders with a take up of roughly 83 per cent.
Shortfall also attracted strong demand with support from both existing and new shareholders.
Units will be issued on July 21 and be allocated and begin trading on the ASX on July 22.
Rural Funds will now undertake the retail component to raise the remaining $70 million.
Participants will also receive one new unit for every 8.4 held at $2.47.
The retail entitlement offer will open on July 14 and close on July 28, with further details to be released on July 14.
Rural Funds was down 2.55 per cent on the market with shares trading at $2.52 at 2:48 pm AEST.
