Salmon farmer Tassal Group has completed an $80 million capital raising to fund growth through an issue of shares to institutional investors and says the placement was heavily oversubscribed.
Tassal said the share placement, at a discounted price of $4.55 per share, had attracted some new high-quality institutional investors.
Tassal shares were 28 cents, or 5.7 per cent, lower at $4.62 at 1048 AEDT.
"I am delighted that Tassal has attracted high quality new institutional investors to its share register, both from Australia and offshore," Tassal chief executive Mark Ryan said on Friday.
"In addition, we have received strong support from our existing shareholders."
Tassal said proceeds from the $80 million placement will assist investments in over the next five years to meet growth in domestic demand for salmon and take advantage of strong operating conditions.
Tassal is also undertaking a share purchase plan to raise an extra $20 million.
The share purchase plan offer opens on March 13.
