Incitec Pivot: Completes $57.7M share purchase plan
- Fertiliser and chemical manufacturing company Incitec Pivot (IPL) has completed a share purchase plan and raised $57.7 million
- This share purchase plan follows the company’s recently completed placement that raised $600 million
- More than 28 million shares will now issued at a price of $2 each
- Shares are also expected to be issued on June 16 and begin trading on the ASX on June 17
- Incitec Pivot will also use the money to strengthen its balance sheet and provide financial flexibility to pursue growth opportunities
- Company shares are down a slight 3.92 per cent and are trading for $1.96 each
