Ridley Corporation Completes AU$99 million Institutional Offer to Support Strategic Fertiliser Acquisition

Ridley Corporation Limited (ASX: RIC) has successfully completed a AU$99 million capital raising through an institutional placement and the institutional component of a 1-for-7.43 pro-rata accelerated non-renounceable entitlement offer. The proceeds will partly fund the $300 million acquisition of Dyno Nobel’s IPF Distribution business, Australia’s leading fertiliser distributor. The offer saw strong support from both existing and new institutional investors, achieving a 99% take-up rate (excluding ineligible shareholders). Approximately 47 million new shares will be issued at AU$2.12 per share—17 million from the placement (AU$35 million) and 30 million from the entitlement offer (AU$64 million). Settlement and trading of these shares are scheduled for 21–22 May 2025.

The retail component of the offer opens on 19 May and closes on 30 May 2025. Ridley’s Chairman, Mick McMahon, highlighted the acquisition as a strategic expansion that complements Ridley’s leadership in animal nutrition, broadening its footprint in essential agricultural inputs.

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