22 February, 2017
Ruralco's $65 million Equity Raising
Baker McKenzie acted for Insight Capital Advisors Pty Ltd and Wilsons Corporate Finance Limited, as the Joint Lead Managers to the Ruralco pro rata accelerated non-renounceable enitlement offer and institutional placement (Equity Raising). Insight Capital Advisors has also acted as Capital Markets Advisor to Ruralco.
Ruralco is seekiing to raise approximately $65 million under the Equity Raising to fund a portfolio of acquisitions and provide enhanced balance sheet flexibility.
Baker McKenzie lead partner on the transaction and head of equity capital markets, Craig Andrade stated: "We were delighted to assist Insight Capital and Wilsons in the launch of this equity raising that will assist Ruralco in this strategically important equity raising. "
Ruralco assist businesses to achieve their goals through providing expertise in merchandise, fertiliser, wool, livestock, real estate, rural property, integrated water solutions, soft commodity risk management, grain, finance and insurance.
Craig was assisted by Baker McKenzie senior associate, Hoda Nahlous and associate, Ivo Basoski.
This transaction follows Baker McKenzie's recent roles in advising APN News & Media on their current $273 million institutional placement and entitlement offer to fund their acquisition of Adshel, along with APN's previous $180 million entitlement offer and demerger and NZX listing of NZME, Afterpay Limited on its $36 million institutional placement, J.P. Morgan and Morgan Stanley as joint lead managers on the A$260 million institutional placement and entitlement offer by National Storage REIT, Morgan Stanley as sole lead manager and underwriter of the $85 million entitlement offer by Tox Free Solutions Limited, Macquarie Capital as sole lead manager and underwriter of the institutional placement by Metcash Limited to fund its $165 million acquisition of Home Timber & Hardware from Woolworths Limited.
