Metcash in $330 million capital raising to drop debt and fund acquisitions
Major grocery supplier Metcash has become the latest major retailer to seek capital from investors in the face of COVID-19, raising $330 million to bolster its balance sheet and fund a slew of acquisitions.
Institutional investors will be tapped for $300 million of the raise, which will be fully underwritten and offered at $2.80 per share, a 7.9 per cent discount to Friday’s $3.04 closing price. The raise represents 11.8 per cent of Metcash’s existing shares on issue.
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