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BRIEF-TFS undertakes $60 mln institutional share placement

Published 04/04/2016, 10:09 am
Updated 04/04/2016, 10:10 am
© Reuters. BRIEF-TFS undertakes $60 mln institutional share placement
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April 4 (Reuters) - TFS Corporation Ltd TFC.AX :

* TFS undertakes a $60 million institutional share placement

* Issuance of 39 million new ordinary shares at a price of $1.55 per share

* Placement was significantly oversubscribed with strong demand from both existing and new institutional investors

* Says TFS will issue approximately 39 million new ordinary shares at a price of $1.55 per share

* Says a target of $5 million will be raised via the SPP

* Says expects to launch the buy-back by making offers to growers in the TFS 2000 scheme in April 2016

* TFS expects to apply an appropriate scale-back policy if valid applications exceed $5 million

* Proceeds from institutional placement will be used to fund acquisition of up to 221 hectares of MIS grower interests ("buy-back") in five mis projects

* Source text for Eikon ID:nASX7LgjQh

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