Central Plains irrigation scheme seeks $43M in capital-raising

Fri, 13 Sep 2013

By Pattrick Smellie Sept. 13 (BusinessDesk) – The $145 million dollar first stage of a major South Canterbury irrigation scheme, Central Plains Water, has taken a big step forward with farmers in the catchment being offered shares in a private capital-raising of up to $45 million. CPW says in offer documents lodged at the Companies Office on Sept. 4 that it is seeking to raise a total of $185 million to complete stage one, pay down existing loans and deal with the fact that it currently carries negative equity of $13.5 million at June 30, an...

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