Comvita to raise $50 million to build on pandemic windfall

Thu, 28 May 2020

Comvita is capitalising on a covid-19 sales boost by asking investors for $50 million to support the company’s transformation.The honey products maker aims to raise $20 million in a placement to institutional investors and about $30 million from a rights issue in an entitlement offer to existing shareholders. The new shares are being offered at $2.50, a 34.4 percent discount from $3.81 at market close yesterday.Board chair Brett Hewlett said the money would strengthen the balance sheet and help the business return to growing profits follo...

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