CHS Looking At Offering Stock Sale, Spiritwood Plant

Jamestown (CSi) CHS Inc. is offering almost 17 million shares of stock for a possible partial funding the anticipated construction of a nitrogen fertilizer manufacturing plant in Spiritwood.

Director of Corporate Communications Lani Jordan, says CHS is required to indicate the possible use for the funds by the U.S. Securities and Exchange Commission when offering stock for sale. The listed use of the funds is not binding on the company.

The sale of shares is expected to raise about $406 million,

She adds that the CHS board has not made the “go-forward decision yet.”

CHS plans to construct the nitrogen fertilizer plant at Spiritwood.

Costs were originally estimated at $1.2 billion. Newer estimates have put the plant’s costs at about $1.8 billion. A final board decision concerning the construction of the plant is anticipated in the second quarter of the year, beginning April 1, 2014.