trending Market Intelligence /marketintelligence/en/news-insights/trending/H_0wTE0ziWg6ds0v4ZM7_w2 content esgSubNav
In This List

Itafos targets C$96M share issue for acquisitions

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook

Case Study

An Oil and Gas Company's Roadmap for Strategic Insights in a Quickly Evolving Regulatory Landscape

Blog

Essential IR Insights Newsletter Fall - 2023


Itafos targets C$96M share issue for acquisitions

Phosphate fertilizers producer Itafos is undertaking a nonbrokered private placement to raise about C$96 million via the issue of 45,714,285 shares at C$2.10 each.

Funds will be used for acquisitions as well as for working capital and general corporate purposes, it said Nov. 21.

The offering will close Dec. 12, and the company may increase the size if it more subscriptions than the shares offered. Completion is expected on Dec. 18.

In early November, Agrium Inc. agreed to sell the Conda phosphate mining project and Conda plant in Idaho to Itafos for US$100 million.

Private equity group Zaff LLC controls 60.8% of the currently issued capital and has agreed to take up its pro rata allocation of shares in the new issue and will also take up all shares not bought in the offer.