Incitec Pivot’s $600m placement handled by Macquarie Capital, JPMorgan and Merrill Lynch equities is covered, say sources.
Shares were being sold on Monday at $2 each, with $600m raised through a placement and $75m through a share purchase plan.
Shares last closed at $2.19 so the raise is an 8.7 per cent discount.
The equity raising was tipped by DataRoom on Monday.
The funds will be used to pay down debt.
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