Nufarm plans to raise $300 million in capital via a fully underwritten institutional share placement.
In the short term, proceeds will be used to repay debt, reducing its debt gearing to between 25% - 30%.
The agricultural chemical company says the outlook for the global agriculture industry remains highly attractive and Nufarm is well-placed to capitalise on additional opportunities.
At the same time, Nufarm says managing director, Doug Rathbone will sell 1.75 million shares in a fully underwritten secondary offering, to raise almost $20 million.