NZ Rural Land Co climbs 4.8% on debut

Mon, 21 Dec 2020

New Zealand Rural Land Co climbed 4.8 percent in its NZX debut, in the last new listing of 2020.The rural land investor traded at $1.31 in its first trade, up from the $1.25 initial public offering price. The company sold 60.5 million shares, raising $75.6 million, including $750,000 from NZX-listed rural services firm Allied Farmers, which bought half NZ Rural Land Co’s management contract. The stock recently traded at $1.30 with about 42,000 shares changing hands in the first 10 minutes.NZ Rural Land Co wanted to raise as much as $150 m...

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