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An announcement from Ridley Corporation Limited ( (AU:RIC) ) is now available.
Ridley Corporation Limited has announced a fully underwritten pro rata accelerated non-renounceable entitlement offer to raise approximately $125 million. The capital raised will be used to fund the acquisition of Dyno Nobel Limited’s fertiliser distribution business. This strategic move aims to strengthen Ridley’s market position and expand its operations in the agricultural sector. The entitlement offer is structured to allow eligible shareholders to subscribe for new shares, with a portion of the capital also being raised through a placement to institutional investors.
The most recent analyst rating on (AU:RIC) stock is a Buy with a A$2.65 price target. To see the full list of analyst forecasts on Ridley Corporation Limited stock, see the AU:RIC Stock Forecast page.
More about Ridley Corporation Limited
Ridley Corporation Limited is a company involved in the agricultural industry, focusing on the production and distribution of animal nutrition solutions and related products. The company is known for its commitment to providing high-quality feed and nutrition products to enhance animal health and productivity.
YTD Price Performance: 2.25%
Average Trading Volume: 435,910
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$846.4M
Find detailed analytics on RIC stock on TipRanks’ Stock Analysis page.