AgStar Fertilizers to be listed tomorrow

Wednesday, 15 February 2012 00:37 - - {{hitsCtrl.values.hits}}

Shares of AgStar Fertilizers Ltd. will be listed on the Diri Savi Board tomorrow via an introduction.

Ordinary voting shares amounting to 307.5 million and non-voting shares amounting to 17.47 million will be listed with respective security codes of AGST-N-0000 and AGST-X-0000. AgStar will be the 277th company to be listed on the Colombo Bourse and will be classified under the Manufacturing Sector.

The company was incorporated in June 2002 to tap prospects in the fertiliser and agriculture market. It has two subsidiaries AgStar Seeds and AgStar Cropcare.

Sierra Holdings owns a 31.7% stake of the company along with LOLC (19.6%), Browns Investments (12.7%) and Sierra Construction (12%). Public holding is 16.7% and the company has 139 shareholders holding a minimum of 100 shares each.

In July last year the company concluded a private placement worth Rs. 1 billion by issuing 125 million shares at Rs. 8 each.