Bellamy's set to raise equity for canning purchase, Credit Suisse on board
http://www.copyright link/content/dam/images/g/v/a/w/j/s/image.related.afrArticleLead.620x350.gwptbr.png/1497311758529.jpg
- Share via Email
- Share on Google Plus
- Post on facebook wall
- Share on twitter
- Post to Linkedin
- Share on Reddit
Street Talk. Louie Douvis
Bellamy's Australia is set to embark on a $60.4 million rights issue to fund the acquisition of a new canning factory.
Credit Suisse is overseeing the rights issue.
The company's shares went into a trading halt on Tuesday morning ahead of the offer.
Bellamy's has been in the market for a new organic infant formula packing and canning facility, after its existing partner Bega Cheese sold its Tatura Milk canning plant to American Mead Johnson.
It's previously been linked to Melbourne-based Blend and Pack, which has a China accredited processing and packaging plant.
The acquisition and raising comes after a shake-up at Bellamy's, which has seen Janchor Partners' John Ho join the board and Andrew Cohen take over as chief executive officer.
The infant formula company's shares have stabilised around the $5 mark in recent weeks, however that is still well off the $12-plus mark where it was as recently as late last year.
- Forums
- ASX - By Stock
- BAL
- Ann: Trading Halt
Ann: Trading Halt, page-14
-
-
- There are more pages in this discussion • 21 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BAL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online