- Bunji Corporation (BCL) has changed its name to Pure Foods Tasmania and listed on the Australian Securities Exchange
- The company recently completed an oversubscribed public offering, which raised $3.5 million through the issue for 15 million shares at 20 cents each
- This offering was conducted in conjunction with the acquisition of all shares in Pure Foods Tasmania
- As of next Tuesday, the company’s ticker code will change from BCL to PFT in accordance with the name change
- By market close company shares were down 5.8 per cent to 24.5 cents each
Bunji Corporation (BCL) has changed its name to Pure Foods Tasmania and listed on the Australian Securities Exchange.
In March, the company completed a public offering which was oversubscribed by $500,000 and raised a total of $3.5 million. Overall, 15 million shares were issued at a price of 20 cents each.
The public offering was conducted in conjunction with the acquisition of all issued shares in Pure Foods Tasmania.
Managing Director Michael Cooper said the company was listing in good shape, despite the challenging business conditions posed by the COVID-19 pandemic.
“With the Public Offer complete and PFT now listed on ASX, we look forward to building on our core competencies and market position to deliver on our strategy for existing and new shareholders,” he said.
Pure Foods will invest the funds from the public offering into the growth of its existing businesses as well as through the acquisition of complimentary Tasmanian food or beverages businesses.
As of Tuesday, May 5, 2020, the company’s ticker code will change from BCL to PFT in accordance with the name change.
By the end of the session, company shares were down 5.8 per cent to 24.5 cents each.