“These assets provide exposures to property which differ from the traditional office, retail and industrial sub-sectors,” he said.
“We believe that the listed entity is very well managed and is focused on delivering solutions which will generate superior crop yields on the properties they own.”
The company listed in 2014, having been created a year earlier through the merger of three unlisted funds that brought their own retail investors into the entity when it listed.
The capital raising is the ASX-listed trust’s sixth entitlement offer to date and its first since 2018. Retail investors had typically taken up about half of their entitlement, investor relations head James Powell said.
The shares, which came out of a trading halt requested by the company on Thursday, dropped 11¢, or 4.2 per cent, on Friday to close at $2.49, above the $2.47 price of new shares available under the 1-for-8.4 share offer.
“We had almost complete support from the domestic investors that have familiarity with this process,” Mr Powell said. “It was very well supported.”
Local funds back Rural Funds capital raise - The Australian Financial Review
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