ELDERS RESOURCES ISSUE TO RAISE 161 MLN DLRS
<Elders Resources Ltd> said its
two-for-seven convertible unsecured notes issue will raise
161.32 mln dlrs for group expansion and development.
    The 46.99 pct-owned Elders IXL Ltd <ELXA.S> offshoot
announced the issue at 2.50 dlrs each with its first-half
results statement.
    The group lifted net earnings to 16.93 mln dlrs in the half
ended December 31 from 5.47 mln a year earlier when it was
still in its formative stages.
    The 8.0 pct notes are convertible to one share on May 1 and
November 1 of each year from next November.
 Reuter
