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.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.