Ms Lemmon details the equity raise for Rural Funds Group (ASX:RFF) and its Kerarbury property.
The placement, which totalled $12.6 million to institutional and sophisticated investors was significantly oversubscribed.
Australia’s first diversified REIT raised a total of $22.4 million through the entitlement offer.
Ms Lemmon notes the settlement of the Kerarbury property occurred on 9 October. FIRB approval signalled the commencement of the 22 year lease between Olam and Rural Funds Group.
Irrigation design and orchard planning is now underway.