Marlborough Wine Estates to raise $2m at steep discount

Marlborough Wine Estates to raise $2m at steep discount
Staff reporters
Marlborough Wine Estates wants to raise up to $2 million from existing shareholders at a steep discount, albeit the level they traded at in early December.Eligible shareholders can buy up to $50,000 of stock at 25 cents apiece, less than half the 59 cents the stock closed at yesterday. The maker of OTU wines will use the funds to retain a bigger inventory in anticipation of increased demand, invest in marketing, and expand its international market.The winemaker last week said it narrowed its first-half loss, in part due to an insurance payment...