NZ Rural Land Co raising $38m to pay for forestry

Rob Campbell is the chair of NZ Rural land Co. (Image: NZ Rural Land Co)

Wed, 01 Mar 2023

New Zealand Rural Land Co (NZRL) wants to raise more than $38 million to help pay for a forestry acquisition it announced last year.The listed-farming landlord, which also announced its full-year results today, went into a trading halt this morning to announce the accelerated offer.The pro rata 1-for-3 accelerated offering seeks to raise about $38.5m at $1 a share, a discount to the $1.06 price the shares closed at yesterday.The institutional offering is open until tomorrow and the retail offering opens on Monday.Investors also get one warrant...

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