Nufarm completes retail entitlement offer

Company News

by Kathy Skantzos

Agricultural chemical company Nufarm (ASX:NUF) has completed its retail entitlement offer, raising approximately $85 million in applications received.

The company said the offer was well supported by eligible retail shareholders, and 77 per cent of the available retail entitlements were taken up under the offer.

Approximately $26 million in retail entitlements, representing entitlements not taken up, will be offered under the retail shortfall bookbuild, expected to commence after the market close today.

Completion of the retail entitlement offer represents the second stage of the company’s $446 million equity raising, announced in October.

The institutional component of the entitlement offer, which closed on 26 October 2017, raised $338 million.

Shares in Nufarm (ASX:NUF) closed 0.46 per cent lower to $8.76.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.