The days of paper assets
BY AMADO MACASAET
Agrinurture eyes expansion in Australia
Listed agro-industrial firm Agrinurture, Inc., (Agrinurture) yesterday said it is eyeing to expand its operation in Australia, with an eye to acquire a company.
Agrinurture however said it also plans to set up a unit that will handle its operation in Australia.
Agrinurture also said they intend to delist from the National Stock Exchange of Australia with the intention of listing the new unit.
Agrinurture recently said that it plans to do its follow on offering after the May election, allocating for the offer the remaining 104,696,129 registered shares of the company.
Under Agrinurture’s closing price of P16.25 yesterday, this amounts to P1.7 billion.
AgriNurture president Antonio L. Tiu earlier said that the proceeds of the offer will be used for its core business segments in farming, cold storage and wet market operations.
They also plan to expand the cold storage facilities and set up "mid-range" cold storage facilities in either in Cebu or Bohol.
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