Rural Funds Group: Raises $100m for acquisitions

Rural Funds Group Raises $100m for acquisitions

• Rural Funds Group (RFF) raises funds for macadamia developments, cattle acquisitions and accretive water transactions.
• The company is aiming to raise in a $100m fully underwritten 1-for-8.4 accelerated non-renounceable entitlement offer
• RFF has enlisted the help of stockbrokers Bell Potter, Wilsons and UBS for the raising with an offering price of $2.47 per share
• The equity raise is to provide capital for the development of 1000ha of macadamia orchards and will take up $85 million of the raise
• RFF said the FY22 forecast adjusted funds from operations (AFFO) is 11.6 cents per unit
• Shares in REF are sitting at $2.60 in a trading halt