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This explains the last few days...

• STREET TALK
• Jun 13 2018 at 4:37 PM
• Updated 9 mins ago

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Brokers circle Bubs Australia offering equity top up

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Bubs Australia makes and sells organic baby food and formula. supplied

• by
  
• Sarah Thompson
  
• Anthony Macdonald
  
• Julie-anne Sprague

Bubs Australia could go cap in hand to equities investors seeking a capital top up as early as this week.
Street Talk understands brokers were circling the infant milk formula and organic infant food company on Wednesday afternoon offering to stitch together an equity raising.
Stockbrokers Morgans and Bell Potter are the most likely brokers to be involved, broker sources said.
Bubs shares closed down 3.5¢ to 89.5¢ on Wednesday.

It comes only days after Bubs Australia announced a deal with online giant Alilbaba Group and local manufacturer Australia Deloraine Dairy, which was well received by investors.
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Bubs Australia had $5.57 million cash at the end of March, according to its most recent quarterly report.
Bubs last raised equity in November 2017 when it went to fund managers with a $15 million placement at 60¢ a share via PAC Partners and Bell Potter. The placement was followed by a share purchase plan that raised another $5 million.