An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.
Tag Archives shares
Accounting probe hits ADM as crop glut, lower margins point to tough 2024
ADM shares fell 24 per cent Monday as news of accounting issues broke
CNH to move to NYSE single listing Jan. 2
Company also plans new US$1B share buyback
Milan | Reuters — Farm and construction equipment maker CNH Industrial said Tuesday its plan to abandon the Milan stock market and retain a single listing for its shares on the New York Stock Exchange would be effective from Jan. 2 next year. The Italian-American group, whose shares are currently traded both on the NYSE […] Read more
Brazil’s JBS reboots plan to list shares in New York
International meat packer hopes for access to lower-cost capital
Sao Paulo | Reuters — JBS SA, the world’s largest meat packer, on Wednesday proposed listing its shares in New York, hoping the move will bring its multiples closer to peers and that a broader investor base will give it more access to cheaper capital, sending its shares up eight per cent in mid-morning trade. […] Read more
Versatile tractor maker’s majority owner boosts stake
Russia's Rostselmash raises ownership to almost 97 per cent
The Russian farm equipment manufacturer which held just over 80 per cent of Canadian tractor and equipment maker Buhler Industries has now taken up near complete ownership. Winnipeg-based, publicly-traded Buhler Industries announced Wednesday that Combine Factory Rostselmash has bought another 16.3 per cent of Buhler shares for $3 per share, or about $12.25 million. Buhler, […] Read more
Louis Dreyfus completes stake sale to ADQ
Deal includes long-term supply line to UAE
Paris | Reuters — Louis Dreyfus Co. (LDC) said on Friday it had completed the sale of a 45 per cent indirect stake to Abu Dhabi holding firm ADQ, marking the arrival of the first non-family shareholder in the agricultural commodity group’s 170-year history. The overall value of the deal was not disclosed but LDC […] Read more
Syngenta’s Shanghai IPO to fund growth, acquisitions
Hong Kong/Zurich | Reuters — Syngenta Group will use the proceeds from its US$10 billion initial public offering (IPO) to fund internal growth and an acquisition spree to snare more of the $100 billion market for seeds and sprays, the agrichemical giant said on Friday. The company’s prospectus to list on Shanghai’s Nasdaq-style STAR Market […] Read more
Farmers Edge launches IPO
Digital ag firm makes first public share offering to big demand
Manitoba’s best-known digital agriculture firm is now a publicly-traded company. Farmers Edge, founded in 2005 in Pilot Mound, Man. by agronomists Wade Barnes and Curtis MacKinnon, has carved out a niche using field-centric data, artificial intelligence and its FarmCommand data management platform. CEO Wade Barnes called it an exciting day during an online press conference […] Read more
Cash-strapped pot producers raise billions in market rally
Cannabis firms seen as down in the weeds until recent surge
Reuters — A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November. Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian […] Read more
AGT privatization gets shareholders’ approval
The privatization of Canadian pulse processor AGT Food and Ingredients is set to move another step forward as company officials take their plan to Ontario’s Superior Court on Monday. The Feb. 11 court date in Toronto comes after AGT shareholders voted Tuesday at a special shareholders’ meeting in favour of privatization, according to a company […] Read more
Aurora Cannabis plans U.S. stock listing in October
Reuters — Canada’s Aurora Cannabis said Thursday it plans a U.S. listing of its shares in October, as it looks to cash in on strong investor appetite for marijuana producers. Interest has boomed in Canada’s marijuana companies ahead of legalization of recreational cannabis in the country next month. Several U.S. states have also legalized marijuana […] Read more
Cyber-Savvy Farmer
