Primary Sector

Allied Farmers tops up Rural Land Co IPO

Dan Brunskill
Wed, 16 Dec 2020

Allied Farmers tops up Rural Land Co IPO
Dan Brunskill
Wed, 16 Dec 2020
Allied Farmers has agreed to invest $750,000 in the NZ Rural Land Company initial public offer, pushing its capital raising over the minimum threshold of $75 million.The investment was made from existing group reserves and brings Allied Farmers’ investment in NZRLC to $1.12 million once $375,000 in loans are converted to shares.Hitting the $75 million milestone meets the final condition for a deal in which Allied Farmers will acquire 50 percent of the farm-land investment company’s manager, NZ Rural Land Management Partnership. &nbs...

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