Allied Farmers tops up Rural Land Co IPO

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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