Tassal Group launches growth initiatives and capital raising

Company News

by Jessica Amir

Tassal Group Limited (ASX:TGR) has announced it is investing in a range of initiatives to meet increasing domestic demand for salmon.

Australia’s largest salmon producer says it expects to invest $270 million in capital expenditure over the next five years.

The investment is expected to deliver an additional 2,500 to 3,000 hog tones of harvested salmon each year, to the 2021 financial year.

Tassal Group Limited (ASX:TGR) also announced its growth initiatives will be funded by a fully-underwritten $80 million institutional placement, and a non-underwritten $20 million Share Purchase Plan (SPP).

Tassal Group Limited (ASX:TGR) last reported a net profit after tax of $27.7 million for the first half of the 2017 financial year.

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