Company News Summary | 23 May 2019
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Freedom Foods Group Provides Equity Raising Presentation
10:34:00 | Associate analysts
Original annuncemenet:FNP Equity Raising Presentation
Freedom Foods Group provided equity raising presentation. The Company has increased the size of its dairy milk pool to more than 400m litres in FY 2020 to provide for increased demand above plan. The Company will raise $130m in equity capital to support increased working capital to meet demand growth and fund accelerated expansion of capacity in Nutritional ingredients. It is raising $130m (the Equity Raising) through a 1 for 18 accelerated non-renounceable pro-rata entitlement offers (Entitlement Offer) to eligible shareholders at $4.80 per share to raise $65m.
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