Agricultural chemicals maker Nufarm Ltd
(ASX:NUF) has completed the retail component of its $250 million equity raising.
The company says entitlements attributable to renouncing and ineligible retail shareholders were sold through the retail bookbuild conducted on May 19, 2010.
Nufarm says the clearing price under the retail bookbuild was $5.95 a share, representing a 3.5% premium to the underwritten issue price of $5.75 for the entitlement offer.
The company says cash proceeds of $0.20 a share, for the sale of the relevant entitlements, would be returned to renouncing and ineligible retail shareholders, less any applicable withholding tax.
Nufarm also announced yesterday that it has acquired the oilseed and confection sunflower interests of California based Flower Genetics.
Flower Genetics is involved in the breeding, production and marketing of sunflower hybrids.
Nufarm’s 2009 financial year profit came to $79.88 million.
