SunRice has enjoyed a strong start to its new listing on the Australian Stock Exchange on Monday.
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Shares in Ricegrowers Limited (SGL) first listed at $7, before strong trade took them to $8.30 before the market closed at 4pm.
Rice growers supported the move to the ASX during a vote last year, the move was to help increase paddy prices, drive shareholder value and allow easier access to capital when needed.
CEO Rob Gordon said the company's five year roadmap was in its third year and was about turning SunRice into a global business.
"Our growth strategy is focused on reducing business risk and building resilience, which is especially important for agricultural companies like SunRice that are exposed to cyclical conditions, such as those currently being experienced in the Riverina by our growers and employees," Mr Gordon said.
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Only B-class shares, which have limited voting rights, are listed on the exchange, only growers can hold A-class shares.
"From our foundations as a rice processor and marketer, today SunRice is a $1 billion Australian icon and one of the largest branded rice companies in the world," chairman Laurie Arthur said.
"The evolution of SunRice continues with our listing on the ASX and we look forward to securing a stronger future for all our stakeholders and the Australian rice industry," he said.
There were 58,725,413 B-class shares listed on the exchange, at 4pm on Monday, those shares were valued at over $487 million.
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