- Maggie Beer Holdings (MBH) has completed the first part of its planned $30 million capital raise, to support the acquisition of Hampers & Gifts Australia
- The food business successfully raised $20.4 million via the institutional offer, with 97 per cent of eligible investors taking part
- The company will now push ahead with the second part of its capital raise, launching a $9.6 million retail entitlement offer on April 8
- Under all of the offers, investors and shareholders were offered new shares for 35 cents per share
- Company shares have ended Thursday up 4.97 per cent at 38 cents each
Maggie Beer Holdings (MBH) has completed the first part of its planned $30 million capital raise, to support the acquisition of Hampers & Gifts Australia.
The food business flagged plans to buy the eCommerce company earlier this week when it first announced the fundraiser.
MBH has now successfully raised $20.4 million via an institutional offer, comprising of both a placement and one-for-3.8 pro-rata accelerated non-renounceable entitlement offer.
Pleasingly, the company noted a strong 97 per cent take-up rate amongst eligible investors who were presented the offers.
“We are very pleased with the strong support shown by new and existing shareholders for the capital raising and the acquisition of Hampers & Gifts Australia,” MBH CEO Chantale Millard said.
“This exciting transaction will help us transform the MBH Group and move it to its next level of growth and shareholder value,” she added.
Following the success of the institutional offer, Maggie Beer will now push ahead with the second part of its capital raise, launching a $9.6 million retail entitlement offer on April 8.
Under all of MBH’s capital raise offers, investors and shareholders were offered new shares for 35 cents per share.
Shares in Maggie Beer are trading up 4.97 per cent at 38 cents per share at the close of Thursday’s trading session.