Ruralco halted ahead of raising

Shares placed in trading halt ahead of fully underwritten equity raising.

Ruralco Holdings (RHL) has been placed in a trading halt ahead of conducting a fully underwritten equity raising.

In a statement to the Australian Securities Exchange, Ruralco said the raising will partially fund a proposed acquisition and will comprise an accelerated non-renounceable pro rata rights issue.

The issue will be offered to eligible institutional and retail shareholders, as well as eligible institutional investors through a bookbuild.

Shares will remain halted until the start of trade on February 17 or when an announcement is released to the market, whichever is earlier.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free