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Incitec Pivot completes share purchase plan

Published by
World Fertilizer,

Incitec Pivot has completed its share purchase plan (SPP) announced on 11 May 2020. This follows the closing of the SPP offer on 9 June 2020.

The SPP has raised approximately AUS$57.5 million, and follows IPL’s successful completion of a AUS$600 million institutional placement on 12 May 2020.

IPL’s Managing Director and CEO, Jeanne Johns, said:

“We are pleased with the strong support we have received from retail and institutional shareholders, indicating their confidence in IPL’s business and its long-term strategy. The capital raised through the SPP and the placement will strengthen our balance sheet and liquidity position, consistent with our commitment to maintaining a strong investment grade credit rating profile and capital structure. It will also support the delivery of our strategy to drive long term shareholder value.”

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