Rural Funds Group raised $30 million from institutional shareholders and will tap retail investors this week for the remainder of the $100 million it is seeking to boost its macadamia plantings and acquire water licences and cattle-grazing land.
The take-up reflected the split in shareholding, with institutions accounting for only about 30 per cent of units in the country’s largest listed farmland trust, which has a relatively high level of retail shareholders.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
