AgriNurture, Incorporated (ANI) is a Philippine company that exports agricultural products.
It intends to respond to the steadily increasing needs of neighboring Asian countries.
These territories comprise farmers that are already in their advanced ages. Furthermore, some of these farm workers are in their stages of decline.
For its expansion target, ANI is presently venturing into various projects and partnerships.
Besides, it aims to upgrade the state of local farming.
Philippine daily newspaper The Philippine Star reported that the company desires to introduce Rice and Corn Blend to the National Food Authority (NFA).
This agricultural mix will serve as an alternative staple nutriment. This agenda of ANI aims to change rice or “palay” farmers into makers of value-added finished goods.
At this point, the agricultural company has obtained the green light from its board.
It can now submit unsolicited plans to the NFA and the Department of Agriculture (DA) with regards to the Rice and Corn initiative of the DA.
Aside from this project of ANI, it is also collaborating with the Binangonan Rural Bank Incorporated (BRB).
This alliance will help in the establishment of an agricultural ecosystem that is closed-loop in nature.
ANI is reportedly subscribing to more shares of the Rizal-based BRB.
The latter possesses one of the few electronic money issuer licenses that the Bangko Sentral ng Pilipinas releases in the Philippines.
Filipino farmers can now access money anywhere and anytime they need to with the e-wallet of ANI.
They can already sync this digital payment technology with the ATM cards of the BRB.
In the first half of 2020, the tie-up between the BRB and ANI will introduce a fully digital banking platform.
Farmers will get to obtain micro-financing through this forthcoming venture. Finally, ANI is eager to expand its operations further.
This plan is already within reach as it has secured a $100-million worth of credit from Vnesto Capital.
The latter is an international investment banking institution that offers equity capital and long-term project-financing to businesses based in the emerging markets.
ANI issued a disclosure to the Philippine Stock Exchange lately.
The company relayed that, when the due diligence procedure gets completed, they will settle the final amount and conditions of the long-term financing agreement.
The Letter of Intent of United States-based Vnesto Capital cited that ANI can avail of a long-term loan with interest pegged at Treasury bill or T-bill rates.
These figures consist of an additional three percent, as per the global investment financial firm.
On Monday, February 24, 2020, AgriNurture, Incorporated (PSE: ANI) closed at P7.74 per share. This last trade price of the company’s stock is down by 0.01 or 0.13 percent.
The total value reached P12,489,230.00. The 52-week high of ANI is at P16.80.
Meanwhile, the Philippine Stock Exchange recorded its 52-week low at P6.37.
- Key Prices for PH Bluechip Stocks 30% Above 52-Week Low - June 4, 2024
- May 2024 Market Sentiment Rating of 30 PH Bluechip Stocks - June 3, 2024
- EquiTalks: ICT, BPI, AEV Updates – 5.29.2024 - May 29, 2024
