Comvita Announces Equity Raising of $50 Million

  • May 28, 2020 NZST
  • Team Kalkine
Comvita Announces Equity Raising of $50 Million

Comvita Limited (NZX:CVT) intends to raise about NZ$50 million through a NZ$20 million placement to institutional investors and about NZ$30 million through a 1 for 4.15 pro-rata accelerated non-renounceable entitlement offer.

After the equity raising, the company expects to decrease its net bank debt/FY20 Underlying EBITDA ratio from 3.6x to 0.9x as at 30 June 2020.

 


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