Monster Cooperative CHS to Sell More Preferred Shares
By: Tim McPartland,
Giant agricultural cooperative CHS Inc (Cenex Harvest States) has announced a new preferred stock offering today. CHS has made a number of preferred offerings in the last year as they gather capital to invest in a new fertilizer plant in Spiritwood, North Dakota. This is a huge $3 billion plant which is to be operational in 2018.
CHS recently announced earnings which were stellar even though revenues fell. Their refining business picked up the slack for the softer agricultural sector.
Details of the new offering have not yet been released, but preliminary details are here.
Reader Mark believes that this issue will price after market close tonight.