AgriNurture Inc., a publicly-listed agribusiness firm led by Antonio Tiu, plans to raise P5 billion from the equities and bond markets to fund expansion plans.
ANI president Antonio Tiu said in a recent interview the company would push through with its P280-million stock rights offering this year, which was delayed because of the pandemic. Tiu said ANI would soon submit to regulators the final prospectus for the stock rights offering at the rate of one rights share for every 2.5 shares held. ANI’s board of directors approved the offering in February 2020.
The company engaged Abacus Capital and Investment Corp. as the underwriter for the offering.
ANI also plans to convert its 75-million-euro green bond offering into a peso-bond offering because of rising interest rates overseas. The company said it was planning to use the proceeds from these fund raising activities to fund the group’s agricultural project expansion related to climate change adaptation and reduced environmental footprint, and for the improvement of production and trade of organic produce. Jenniffer B. Austria