Cooks Coffee plans share placement for growth

Cooks Coffee has unveiled plans to raise funds through a share placement and share purchase plan.

The New Zealand-based company, which is listed on the NZX and AQUIS, said the offer was aimed at investing in digital programs, expanding its Esquires international business, driving growth plans, and repaying debt.

The share purchase plan will be open to existing shareholders with a New Zealand address, with up to 5,690,862 new shares to be issued at an issue price of $0.20 per share.

Meanwhile, the placement will be offered to selected investors, targeting a raise of up to $1.7 million through the issue of up to 8,536,294 new shares.

The offer is not underwritten.