Elders keeps creeping on Wrightsons

(Image: PGG Wrightson)

Mon, 21 Aug 2023

Australian rural services firm Elders has kept lifting its stake in PGG Wrightson and boosting its exposure to New Zealand’s agricultural sector at a time when dairy farmers, in particular, are facing a tough season. The Australian securities exchange-listed company bought 758,040 shares for $3.2 million – roughly $4.25 a share – between Dec 20 and Aug 18, according to an NZX filing. That lifts its stake to 12.3% from the 11.3% holding it built up last year at roughly $4.35 a share. When it first emerged as a substan...

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