Freedom Food group plans to raise $200 million

Company News

by Rachael Jones

Freedom Food group (ASX:FNP) has announced plans to raise $200 million in capital to help expand its dairy manufacturing plants.

They want to improve their operations in Shepparton and Ingleburn in NSW and look to acquire future plants.

At the AGM the company estimated FY 2018 net sales revenues to be in the range of $360 to $380 million. The managing director says the company was planning to raise $100 million from institutional investors and $100 million from eligible shareholders.

Shares Freedom Food group (ASX:FNP) last traded at $4.94
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.