PGG Wrightson Limited says it has successfully completed its rights issue to raise $181 million.
PGG received subscriptions for 382 million ordinary shares, totaling $171.9 million, representing a take-up of approximately 95% of shares on offer.
The shortfall of about 5%, or 8.8 million will be taken up by the underwriters First NZ Capital Securities and UBS New Zealand Limited.
The new shares will be issued on 23 December.