Freedom Foods Group Limited
(ASX:FNP) has announced it has completed the institutional component of its entitlement offer and placement.
The offer and placement raised approximately $62 million at an offer price of $4.45 per new share.
Capital raised will be used to fund a number of acquisitions, including the proposed acquisition of Australian Consolidated Milk’s 50 percent interest in Pactum Dairy Group.
The retail component of the entitlement offer will open on 13 December, with 2 new shares available for every 25 shares held, at an offer price of $4.45 per share.
Freedom Foods Group Limited reported a net profit of $50.63 million at 30 June 2016.
