Duxton Water raises $3.6 million towards their debt facility

Company News

by Rachael Jones

Duxton Water (ASX:D20) is pleased to announce that upon the completion of the Share Purchase Plan at offer price of $1.48 per share, they have raised a total of $3.6 million.

As previously advised, the recently completed Placement raised $15 million, the funds from which have put towards the existing debt facility.

With conditions continuing to be dry, low opening allocations announced for the new water year which begins on 1 July 2019, and a lack of sufficient in-flows to the system, the Australian water market continues to see allocation and entitlement prices rise.

Duxton Water sees an opportunity in this market to continue to grow the portfolio, and to develop long-term relationships with irrigators, to meet their increasing demand for longer-term supply solutions.

Shares in Duxton Water (ASX:D20) are trading 1.38 per cent higher at $1.47.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.