CropLogic shares sell out

CROPLOGIC a company that uses technology originally developed by the New Zealand Institute for Plant and Food Research has announced its entry on the Australian Stock Exchange (ASX) is progressing well with over $8 million raised through an oversubscribed initial public offering (IPO).
CropLogic shares sell out CropLogic shares sell out CropLogic shares sell out CropLogic shares sell out CropLogic shares sell out

Kristy Moroney

Jamie Cairns, Managing Director of CropLogic, said the company’s upcoming ASX listing is the foundation for international growth plans.

“It is exciting to have witnessed such a tremendous response from the market, “Mr Cairns said.

“Hunter Capital Advisors have certainly delivered for us after initially closing out our pre-IPO raise in such a concise manner and then the recent IPO process subsequently being oversubscribed,” he said.

“The funds raised will be used to grow the business, fund market development, research and development and provide a healthy level of working capital.”

CropLogic provides predictive decision support system for agricultural growers and the company’s anticipated listing on the ASX follows a recent announcement on the acquisition of a North-West USA-based agronomy services company, known as Professional Ag Services. 

The company said in a statement the acquisition provided CropLogic with strategic access to the lucrative North American agricultural industry, and an established immediate channel to further the company’s presence and develop grower and processor relationships in the three key agricultural states in the USA.

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