The Share Offer to invest in one of the world’s largest wheat management and marketing companies, AWB Ltd, has opened.
Under the Offer, a total of up to an additional 31.8 million shares in AWB – priced at $3.15 per share – will be made available to institutions, retail investors, existing shareholders and employees.
This offer is in addition to the 242 million shares in the company, owned mostly by Australia’s wheat farmers, which will commence trading when AWB lists on the ASX on 22 August.
The Offer will involve share allocations totalling up to $20 million to existing shareholders and AWB employees.
A further $80 million in AWB shares is being offered to institutions and retail investors.
AWB Chief Executive, Andrew Lindberg, said there was already strong demand for the take-up of new Shares being issued by AWB.
“The response since AWB’s Prospectus was launched earlier this month has been very positive,” Mr Lindberg said.
Mr Lindberg said the listing was aimed at ensuring a far greater level of trading of AWB shares than had occurred through the previous share matching facility where trading in AWB shares was limited.
He said ASX listing should ensure far greater volumes of trading in AWB shares and therefore shareholders should receive fair value for their investment.
The Share Offer is expected to close on 15 August 2001.
All existing shareholders have been mailed a copy of the prospectus and AWB will be conducting a series of grower meetings across Australia’s wheat belt in late July and early August.
Any inquiries regarding the Offer should be directed to AWB’s Share Registry on 1800 810 032.
For further information contact Alana Wastle on (03) 9209 2555 or 0407 310 250.