Seeka plans $50M rights offer to fund expansion

Sun, 11 Nov 2018

By Gavin Evans Nov. 12 (BusinessDesk) - Kiwifruit grower and marketer Seeka plans to raise about $50 million from shareholders to help fund its ongoing expansion. The firm is offering existing investors the chance to buy one new share for every 1.5 shares held at $4.25 each. That is 25 percent less than the price the shares closed at on Friday, and a 17 percent discount on an ex-rights basis. The rights offer is fully underwritten by First NZ Capital which is being paid 2.75 percent of the offer proceeds. “Seeka will use the capital...

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