CropLogic debut hit

SHARES in agricultural technology company CropLogic have slipped more than 22 per cent in its trading debut.

The company uses infield sensors to collate and interpret crop data to help growers improve the productivity of their plantings.

CropLogic, which is based in Christchurch, New Zealand, raised $8 million in its initial public offering, issuing 40 million ordinary shares at 20¢ apiece. It closed down 4.5¢ at 15.5¢ on the ASX yesterday.

Successful trials of the CropLogic system have been completed on potatoes in China, the US, Australia and NZ.