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.

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.