Ridley Corporation Launches $125 Million Capital Raising Initiative

An update from Ridley Corporation Limited ( (AU:RIC) ) is now available.

Ridley Corporation Limited has initiated a $125 million capital raising effort, which includes a $35 million placement to institutional investors and a $90 million entitlement offer to eligible shareholders. The retail component of this offer, expected to raise $26 million, is now open, allowing eligible retail shareholders to purchase new shares at $2.12 each. This capital raising is aimed at strengthening Ridley’s financial position, potentially enhancing its market competitiveness and operational capabilities.

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 operates in the agribusiness sector, focusing on the production of animal nutrition solutions. The company provides a range of products and services aimed at enhancing the productivity and health of livestock, catering primarily to the agricultural market.

YTD Price Performance: 2.25%

Average Trading Volume: 435,910

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$846.4M

For an in-depth examination of RIC stock, go to TipRanks’ Stock Analysis page.