Nufarm requests trading halt for equity raising

Company News

by Anna Napoli

Nufarm (ASX:NUF) has requested a trading halt for the remainder of the week in relation to an upcoming capital raising.

The agricultural chemical company's shares have been placed in a halt pending the announcement about the outcome of the institutional component of the offer.

The equity raising comes just one year after company raised over $400 million to fund the acquisition of a portfolio of crop protection products.

The company provided a trading update in July this year which warned that extended dry weather conditions in Australia had significantly impacted the Australia and New Zealand business, downwardly revising earnings for ANZ to a range of $5-10 million.

Shares in Nufarm (ASX:NUF) last traded $6.70.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.