Bubs Australia (ASX:BUB) has today announced it has raised $40 million in a significantly oversubscribed share placement.
The company offered new shares at 75 cents each to investors in Australia and internationally.
The funds raised will provide working capital to fund the company’s growth in China.
The placement follows the binding agreement with Deloraine Dairy and supply contract with New Times Asia.
Chairman Dennis Lin, says the company is very pleased with the capital raising and has thanked both cornerstone and new investors.
Shares in Bubs (ASX:BUB) are trading 6.15 per cent lower to 84c