AACo launches capital raising
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Start your free 15 day trial now' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Australian Agricultural Company (AAC) has announced a $299 million capital raising to diversify its business strategy away from primary production and strengthen its balance sheet.
In a statement to the Australian Securities Exchange, AAACo said this would enable a focus away from primary production and towards vertical integration of its beef business, including downstream processing and direct access to export markets, particularly in Asia.
"AACo's current balance sheet position limits its strategic flexibility," the company said.
"AACo's strategy is to diversify away from capital intensive primary production by increasing its exposure to higher margin, less cyclical assets with a higher return on capital."
The group said $87 million from the raising was for capital expenditure and working capital requirements at its Darwin Abattoir.
The remaining funds would go towards debt reduction and refinancing, as well as freeing up a balance sheet primarily tied up with capital intensive and volatile primary production projects, the company said.
The raising includes a $219.2 million entitlement offer and $80 million of subordinated convertible notes maturing in 10 years' time.
Before the market opened, AAco shares were placed in a trading halt ahead of the announcement, last traded at $1.17.
Call 1300 880 160
Start a chat
Schedule a call
