Blackmores (ASX:BKL) looks to raise $117 million

Company News

by Rachael Jones

Australian health supplements company Blackmores (ASX:BKL) is undertaking a fully underwritten $92 million institutional placement and non-underwritten Share Purchase Plan of up to $25 million to eligible shareholders.

The raise is to provide balance sheet strength and additional flexibility to pursue growth opportunities.

Underlying profit remains in-line with expectations and guidance provided at 1H 20 results.

Shares in Blackmores (ASX:BKL) are currently in trading halt - Last traded at $78.85.