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21-05-2012 07:39 AM
| New Zealand
Pastoral Dairy Investments abandons float
Pastoral Dairy Investments’ plans to float and become a new player in the dairy sector have been withdrawn with the company saying there is not enough investor interest to get funds to buy farms.
PDI had aimed to raise more than $75 million from ’’normal’’ Kiwis to buy farms in Canterbury and Southland, but said it had not reached the minimum interest for a $25m initial public share offer.
PDI had aimed to raise more than $75 million from ’’normal’’ Kiwis to buy farms in Canterbury and Southland, but said it had not reached the minimum interest for a $25m initial public share offer.
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