A2 Milk is launching a $NZ43 million ($A39.42 million) capital raising through a placement and share purchase plan to support its planned expansion in China, the UK and United States.
The company's shares, valued at 65 cents on the ASX at Wednesday's close, have been placed in a trading halt ahead of the placement of new ordinary shares with a floor price of 67 NZ cents each.
A2, which in July rejected a takeover offer from Australia's Freedom Foods and US dairy giant Dean Foods, has appointed Goldman Sachs New Zealand to act as sole arranger, book runner and underwriter for the fully underwritten placement, which is being offered to institutional investors.
The placement should raise $NZ40 million, with the remainder coming from the share purchase plan.
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