Incitec Pivot (ASX:IPL) raises over $57 million via share purchase plan

Company News

by Anna Napoli

Fertilliser and explosives supplier Incitec Pivot (ASX:IPL) has completed its share purchase plan. The plan has raised about A$57.5 million from retail investors.

The company issued new shares at $2.00 each.

The retail plan follows the successful completion of a A$600 million institutional placement last month.

The company says the proceeds of the raising will enable it to strengthen it’s balance Sheet to increase resilience in the current environment.

Shares in Incitec Pivot (ASX:IPL) are trading 4.2 per cent lower at $1.96.