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NZ Rural Land lists, may come back for 2021 - Rob Campbell
21 Dec, 2020 04:56 AM
4 minutes to read
New Zealand Rural Land Co (NZRLC) chairman Rob Campbell says the newly-formed property investor plans to raise more capital early next year after just managing to get its initial public offering (IPO) over the line.
NZRLC listed on the NZX today after its fundraising came in at the bottom end of $75 million to $150 million target range, helped along by a last-minute $750,000 injection from Allied Farmers.
The stock - which was to have debuted on last Friday - listed at $1.31, a small premium to its $1.25 issue price.
NZ Rural Land Company pushes out NZX listing day to Monday
16 Dec, 2020 04:30 AM
2 minutes to read
NZ Rural Land Co is expected to list on the sharemarket on Monday. Photo / File
New Zealand Rural Land Company Ltd (NZRLC) said it had raised the minimum $75 million required for its initial public offering but that the listing date had been extended to Monday from Friday.
The company said allotment of the shares under the IPO has been deferred by a day to facilitate settlement with institutional investors.
A $750,000 investment from Allied Farmers got the IPO over the line to meet the $75m minimum target.