Rubicon's ArborGen plans to raise US$75m

ArborGen, the tree seedling company that's 33% owned by New Zealand's Rubicon, plans to raise US$75 million in a US initial public offering.

The Summerville, South Carolina-based company will use the proceeds to buy a new headquarters, manufacturing and research laboratories and to repay debt, it said in a statement on Friday. ArborGen's other shareholders are International Paper and MeadWestvaco.

The number of shares to be offered and the price range for the offering have not yet been determined, it said. Goldman Sachs and Citi will manage the sale.

Rubicon shares last traded at 79 cents and have fallen 12% this year.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CDC Independent Valuation - 30 June 2025
TruScreen Group Limited SPP Update
THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report