May 11 (Reuters) - Incitec Pivot Ltd IPL.AX :
* DETERMINED NOT TO PAY A DIVIDEND IN RESPECT OF HALF-YEAR ENDED 31 MARCH 2020
* HY REVENUE FROM ORDINARY ACTIVITIES UP 6.1% TO $1,847.9 MILLION
* ANNOUNCES RAISING OF $600M IN NEW EQUITY
* CAPITAL RAISING THROUGH FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT & NON-UNDERWRITTEN SHARE PURCHASE PLAN
* NON-UNDERWRITTEN SHARE PURCHASE PLAN OF UP TO $75M
* HY STATUTORY NPAT A$65M, UP 22%
* COVID-19 PANDEMIC BRINGS FUTURE ECONOMIC UNCERTAINTY ON COMMODITY PRICING AND DEMAND
* EXPLOSIVES AND FERTILISER BUSINESSES ARE WELL POSITIONED FOR LONG TERM CUSTOMERS TRENDS
* WELL PLACED TO MANAGE SHORT TERM RISKS
* ABOUT A$60 MILLION IN CASH SAVINGS THROUGH COST INITIATIVES AND REDUCTIONS AND DEFERRALS IN CAPITAL EXPENDITURE
* CAPITAL RAISING TO REDUCE PRO FORMA NET DEBT TO A$1,276 MILLION AND NET DEBT/EBITDA TO 1.9X