Markets

Agria in for $104 mln payday in Wrightson capital return

Paul McBeth
Wed, 03 Jul 2019

By Paul McBeth July 4 (BusinessDesk) - Chinese agricultural firm Agria will pocket almost $104 million in PGG Wrightson's $234 million capital return. The Christchurch-based company has called a special meeting on July 23 for shareholders to vote on whether to support the proposal. The scheme of arrangement, which will also need High Court approval, would see Wrightson undertake a two-for-one share split, followed immediately by a 31 cent payment per share to cancel one of every two shares.  The practical effect of the transaction is t...

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