The proposed Heartland bank will seek an extra $3 million to
take its overall capital raising to $58 million, to go
towards the $100 million purchase of listed PGG-Wrightson's
rural loan book, valued at up to $430 million.
agreed to sell its finance division's up to $430 million
rural loan book to fledgling bank Heartland New Zealand for
about $100 million, which includes capital raising of a
minimum $55 million from private placement and a share