PGW's Beijing office fostering trade between China and New Zealand.

Hong Kong based private investor Zuellig Group is talking to potential investors about a possible partial takeover of rural services group PGG Wrightson.

Rural services company PGG Wrightson is urging shareholders not to sell shares after disclosing this morning that it has been approached by another party interested in making a full takeover offer.

Rural services company PGG Wrightson said today it had allotted all shares in its rights offer, raising about $180.7 million.

Chairman Keith Smith said it was an excellent result for PGW to have successfully completed the rights issue before the New Year.

"This has allowed PGW to repay $200 million of bank debt and recapitalise the business well ahead of schedule. This is an exceptional outcome for PGW and all stakeholders and places the business in a strong position looking forward to 2010."

A legal class action launched against PGG Wrightson’s newest cornerstone shareholder was dismissed this week by a United States court.

The NYSE-listed company was the victim of a class action lawsuit launched by buyers of securities prior to its initial public offering two years ago.

The IPO raised $US282 million by selling securities at $US16.50 per share.