Bellamy’s Australia Limited
(ASX:BAL) has successfully raised $14.3 million in gross proceeds through an institutional, non-renounceable entitlement offer.
The organic baby food company closed the institutional entitlement offer on Wednesday 14 June with a 96 per cent take-up rate.
The company expects to issue the new shares and commence trading on Friday 23 June 2017.
It comes as Bellamy’s previously announced it is hoping to raise about $60.4 million in total, including its upcoming Retail Entitlement Offer, which is tipped to open on 20 June 2017.
Shares in Bellamy’s Australia Limited
(ASX:BAL) are trading 5.69 per cent higher to $6.10.
