Freedom Foods Group launches capital raising

Company News

by Rachael Jones

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.
 

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.