NZL - NZ Rural Land Co IPO

[golden city]

Ipo closed on last Friday. Let’s see how much they have raised

[nztx]

https://www.nzx.com/announcements/365132

ALF Rights Announcement today contains reference to the NZRL IPO:

"FINAL CHANCE TO INVEST IN ALLIED RIGHTS ISSUE FOLLOWING SUCCESSFUL RURAL LAND COMPANY IPO

• Shareholders are reminded that Allied Farmers’s Rights Offer @ 50cps closes this Friday 18 December 2020.

• The NZ Rural Land Company Limited (NZRLC) IPO has successfully satisfied its minimum raise condition of $75 million in its Initial Public Offering, meaning that Allied Farmers will acquire a 50% interest in NZ Rural Land Management Partnership (the Manager). To assist in the success of the IPO capital raise, Allied agreed to invest $750,000 in the NZRLC IPO.

Final Chance to Invest in Allied Farmers’ Rights Issue Capital Raise"

[nztx]

https://www.nzx.com/announcements/365157

Updated L&Q Notice - New Zealand Rural Land Company Limited


'Company: New Zealand Rural Land Company Limited

Issuer Code: NZL

Ticker Code: NZL

ISIN: NZNZLE0001S2

Short Name: NZRLC


'Product Disclosure Statement Dated: Monday, 16 November 2020

Offer Opens 5:00pm, Monday 23 November 2020

Offer Closes 5:00pm, Friday 11 December 2020

Allotment Date: Friday, 18 December 2020

Earliest Mailing of Holder Notices: Friday, 18 December 2020

Expected Commencement of Trading on the NZX Main Board: Monday, 21 December 2020'

[golden city]

Good outcome

[Ferg]

So NZL listed today (great ticker BTW!). Per my post #8 I estimated shares on issue of 60.62m after the IPO. The various NZX announcements show the shares on issue are 60.46m. My previous calculation assumed ALF would exercise their right to convert their loan into 300k shares which it seems they have not yet done.

The 60.46m is made up of the initial 260k shares, plus 60k shares issued to Directors for services in lieu of fees and I'm guessing the balance of 60.14m shares were issued under the IPO.

Per the NZX announcements, the D&O's Messrs Dillon, Milson & Swasbrook now collectively hold 3.13m shares. This has increased by 2.87m shares versus the 260k shares on issue prior to the IPO. Without these individuals increasing their stakes, the IPO would not have met the minimum subscriptions. I estimate public subscriptions were about 57.27m shares out of a minimum of 60m.

The IPO offer price was $1.25. Pre-opening trades have settled today at $1.30 with sellers currently at $1.28 and buyers at $1.26. Some hopeful punters are offering 229k of their newly acquired shares at prices ranging from $1.50 to $2.25. They may be waiting a while considering total shares on offer outnumber total shares being bid for at 3.6 : 1.

[nztx]

Well that went well - a series of of bumps & skids up to 131 pennies for a slice of prime future dairy
estate then a slide down the slope to start, any eager buyers in sight look like they're running out of puff ..

but who knows ..

[Beagle]

Good outcome

I am pleased the absolute barrage of emails soliciting support has stopped so yes, from my perspective its a great outcome.

[WAIKEN]

Some interesting substantial holders if you google them.

[golden city]

Clyde and Rena Hollard Also bought 20% of the management company very interesting

[golden city]

Could all back up to Alf with the call option. Eventually Alf will hold 100% of the management company and Clyde and Rena Hollard and elevation will control Alf the entity will become their vehicle to drive future plans