Freedom Foods Group
(ASX:FNP) has announced $130 million equity raising comprising at $4.80 a share.
The Equity Raising is fully underwritten by Veritas Securities and UBS AG.
Veritas, UBS and Citigroup Global Markets Australia are joint lead managers.
The rights issue and placement are both expected to raise $65 million each.
Their biggest shareholder Arrovest will take up its entitlement in full and will not participate in the placement.
The equity Raising will predominantly be used to accelerate Freedom Foods's growth strategy.
Shares in Freedom Foods Group
(ASX:FNP) last traded at $4.80.
