Freedom Foods announces completion of institutional equity raising

Company News

by Anna Napoli

Allergen free food company, Freedom Foods (ASX:FNP) has announced the successful completion of its institutional equity raising.

The institutional offer and placement together raised about $182 million.

Shares were offered at a price of $4.80 per new fully paid ordinary share.

A further $18 million dollars is expected to be raised via a retail offer which will open this Thursday the 22nd of  March.

The company says the funds raised will go towards expansion programs and balance sheet flexibility.

Freedom Foods had its trading halt lifted this morning following the successful completion of the offer.

Shares in Freedom Foods (ASX:FNP) are trading 1.03 per cent higher to $4.98.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.