We’re listed

SunRice shares now open to the pub­lic

Southern Riverina news - - NEWS -

SunRice is now of­fi­cially listed on the Aus­tralian Se­cu­ri­ties Ex­change.

The lead­ing Aus­tralian branded foods com­pany’s shares were trad­ing at $8.30 a share as the SOUTH­ERN RIVE­RINA NEWS went to print yes­ter­day, af­ter open­ing at just over $7 a share Mon­day morn­ing.

The list­ing is the next step in a jour­ney that be­gan in the New South Wales Rive­rina al­most 70 years ago.

List­ing on the ASX will en­able SunRice to have bet­ter ac­cess to funding, when it is re­quired, to de­liver on the com­pany’s 2022 Growth Strat­egy.

SunRice CEO Rob Gor­don said the strat­egy is a five-year roadmap that cap­i­talises on global food trends and the busi­ness’ com­pet­i­tive ad­van­tages, with the aim of in­creas­ing paddy prices for rice grow­ers and driv­ing share­holder value.

The com­pany an­nounced last year it an­tic­i­pates spend­ing be­tween $200 mil­lion and $300 mil­lion across its en­tire foot­print as part of the strat­egy, which in­cludes at least $24 mil­lion at De­niliquin.

‘‘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.

‘‘The strat­egy, now in its third year, is de­signed to ac­cel­er­ate the SunRice Group’s growth into a strong and en­dur­ing global busi­ness to the ben­e­fit of share­hold­ers, grow­ers and em­ploy­ees.’’

SunRice share­hold­ers voted to sup­port the list­ing mo­tion in Septem­ber, with 80 per cent sup­port from A class share­hold­ers and more than 90 per cent from B class share­hold­ers.

SunRice chair­man Lau­rie Arthur was pleased to rep­re­sent the com­pany as the ASX list­ing cer­e­mony and cer­e­mo­nial bell ring­ing on Mon­day.

‘‘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.,’’ he said.

‘‘We have a diverse port­fo­lio of busi­nesses and strong track record in in­no­va­tion and com­mer­cial­is­ing value-added rice prod­ucts in high-growth global mar­kets.

‘‘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.’’

SunRice’s ASX ticker code will be SGL. Visit www.sunrice.com.au for more in­for­ma­tion.

SunRice chair Lau­rie Arthur and CEO Rob Gor­don at the cer­e­mo­nial ASX bell ring­ing.

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