Rural Equities sells PGG Wrightson stake; Cushing still in

Fri, 17 Apr 2020

Rural Equities has sold its PGG Wrightson stake at a 15.5 percent premium to what it paid in August. However, the farming manager’s executive chair David Cushing, who’s also a PGW director, has kept his 2.7 percent stake in the rural services firm through his family’s H&G vehicle. Rural Equities today sold almost 3.2 million shares at $2.75 a share, pocketing $8.7 million, according to a notice to the NZX. That was up from the $2.25 price it closed at yesterday and the shares recently traded at $2.56, a gain of 13.8 percent. The compan...

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