$35M capital raise at centre of Bubs trading halt
- Australian milk-formula king Bubs (BUB) is poised to raise $35 million through a twin share placement plan
- The company throttled into a trading halt this Thursday and is expected to return to form on December 9
- 31.6 million shares will be dished out at 95 cents apiece — 11.8 per cent lower than the company's average five-day valuation
- The last $5 million will come from 5.3 million shares given to existing investors; Bell Potter Securities and PAC Partners
- Reports indicate the multi-million dollar capital raising is needed to address Asia's demanding infant milk formula market
- Bubs recently made new deals for popular Chinese retailer Alibaba, and Vietnamese chain Bibo Mart
- Shares in Bubs last closed at $1.07
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