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Saturday 21 May 2022

NZ King Salmon raises $50m, allocates shortfall

10th May 2022 By Staff Reporter | news@foodticker.co.nz | @foodtickernz

New Zealand King Salmon has closed its $60.1m underwritten 2.85 for 1 pro rata rights offer.

The company said eligible shareholder applications totalled $50.3m, retail shareholders will be allocated $3.5m of the $9.8m shortfall, and underwriter Jarden or its sub-underwriters will take up the remainder.

The proceeds of the equity raise will be used to deleverage NZKS’ balance sheet and provide liquidity and funding for medium-term operating requirements.

 

 


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