Some of Argentina’s biggest companies are raising finance to invest in the booming agriculture sector in Latin America, on the back of steep rises in soft commodity prices.
Cresud, the agricultural arm of one of Argentina’s biggest investment groups, Irsa, and the country’s biggest landowner, announced at the end of February that it planned to issue a further 180 million shares to raise $300 million.
The company, which is listed on the Buenos Aires stock exchange and Nasdaq, plans to use the fresh capital to buy land in Argentina, Bolivia, Paraguay and Uruguay (until now outside Argentina it had a presence only in Brazil).
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