Synlait completes institutional component of rights offer, raising $59 million

Tue, 20 Sep 2016

By Sophie Boot Sept. 21 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, has completed the institutional component of its rights offer, raising about $59 million. As part of its earnings announcement on Monday, the company said it planned to raise a $98 million in a rights offer to expand its infant formula manufacturing, consumer packaging, infrastructure requirements and value-added cream manufacturing. “Synlait is a growth company. Our FY16 performance highlights the progress we’ve made since our IPO in 2013 towards our...

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