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$65m agribusiness equity raising underway
Two joint lead managers have been advised on a $65 million equity raising for agribusiness network Ruralco.
Tom Lodewyke
Firm: Baker McKenzie (Insight Capital Advisors Pty Ltd and Wilsons Corporate Finance Limited)
Value: $65 million
Area: Equity capital markets
Key players: The Baker McKenzie team was led by partner and head of equity capital markets Craig Andrade (pictured), with assistance from senior associate Hoda Nahlous and associate Ivo Basoski.
Deal significance: Ruralco is a national network that provides clients in the agribusiness sector with expertise in merchandise, fertiliser, wool, livestock, grain, real estate, water, risk management, finance and insurance.
It has embarked on a pro-rata accelerated non-renounceable entitlement offer and institutional placement, with finance firms Insight and Wilson as joint lead managers, aiming to raise $65 million to fund a portfolio of acquisitions and improve its balance sheet flexibility.
Baker McKenzie advised the joint lead managers. Lead partner Craig Andrade said the firm was “delighted” to advise Insight and Wilsons on this “strategically important equity raising”.
