Burger Fuel raises $2 mln in placement to Milford funds, founding shareholder sells down

Wed, 19 Dec 2012

Dec. 19 (BusinessDesk) - Burger Fuel Worldwide, which is expanding by licensing its burger chain concept in the Middle East, raised $2 million selling shares at a discount to funds run by Milford Asset Management. The Auckland-based company will issue 1.6 million shares at $1.25 apiece to the Milford Active Growth Fund and the Milford Active Growth KiwiSaver Fund, it said in a statement today. The shares jumped 7.1 percent to $1.50 on the NZX. The Milford funds are also acquiring 800,000 shares at the same price from Mason Roberts Holdings,...

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