primeag-completes-institutional-offering

PrimeAg completes institutional offering

The Australian agricultural investment company will be the first soft commodities play to go public after raising A$300 million.
November 13, 2007
PrimeAg Australia is set to become the worldÆs first listed soft commodities company focusing on wheat and grain after completing the institutional portion of its initial public offering. Despite volatile markets, sources say the deal attracted good demand, ensuring that it will be able to raise the full A$300 million $268 million that it sought.

PrimeAg is set to list on the Australian Securities Exchange in mid-December after also conducting a retail offering that is expected to account for 10%-15% of the total deal.

The offering, which was arranged by ABN AMRO Morgans, Grange Securities a subsidiary of Lehman brothers and Southern Cross Equities, comprised 150 million shares that were sold at a...
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