Blackmores Limited: Raises Equity and Expects FY20 NPAT of $17-21 million

  • May 27, 2020 AEST
  • Team Kalkine

Blackmores Limited (ASX:BKL) notified the market that it is undertaking an equity raise, comprising the following:

  • Placement: Fully underwritten institutional placement of $92 million
  • Share Purchase Plan: Non-underwritten SPP of around $25 million to eligible shareholders

The proceeds from the equity raised shall be utilized

  • To expedite in Asia
  • To invest in efficiency program
  • To strengthen the position of balance sheet

The SPP offer is expected to close on 3 July 2020 and allotment shall be made on 14 July 2020, while allotment date and normal trading of new shares issued under the Placement is 2 June 2020.

BKL reiterated that it expects FY 2020 underlying NPAT to lie in between $17 - $21 million.


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