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.”