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Brisbane Markets Limited (BML) has confirmed plans to progress with a capital raising later this month by way of a Rights Issue to existing shareholders as well as a Public Offer of shares, at an issue price of $2.50 per share, payable in two instalments.
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The collapse of Australia’s largest listed Managed Investment Scheme (MIS), Great Southern, hot on the heels of the recent failure of Timbercorp, another high profile MIS, is set to send further ripples through the horticulture industry, and reignite the debate about the involvement of these schemes in the horticulture industry.
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The Federal Government delivered its budget this week, facing the challenges of a mounting deficit, the global economic crisis and the need to balance policy settings to give an indication of the economic outlook for Australia over the coming 2-3 years.
The new round of commitments to infrastructure projects is a welcome move.
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The fallout from the troubled Timbercorp group has thrown a major part of Australia’s rural industry into disarray and raised questions about the sustainability of urban-based schemes designed to minimise investors’ tax liability.
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Winter has come early for Queensland’s most important fruit and vegetable hub, Brisbane Produce Market, with a change to Winter hours from the start of May.
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