Pre-Christmas IPO for NZ Rural Land Co

Wed, 18 Nov 2020

New Zealand Rural Land Company plans to list on the NZX on Dec. 18, raising at least $75 million and as much as $150 million, in an initial public offering.The company – which plans to buy farmland and act as a rural landlord – will sell between 60 million and 120 million shares at $1.25 apiece to buy land, its offer document shows. The offer opens on Nov. 23 and closes on Dec. 11.NZ Rural Land Co hasn’t closed any deals yet but has identified 21 South Island dairy farms spanning 9,239 hectares it said are suitable for a buyer...

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