TWE completes $486 mln share sale

Treasury Wine Estates has completed the retail shortfall bookbuild of its 2-for-15 rights share offer, to pay for its recent Diageo acquisition.

Treasury Wine Estates has raised a total of $486 million through a rights share offer. (AAP)

Treasury Wine Estates has raised a total of $486 million through a rights share offer after completing the retail shortfall bookbuild for the offer.

The Aussie wine supplier had raised $368 million through an institutional placement in October.

The proceeds from the 2-for-15 rights share offer are being used to fund its $US600 million purchase of most of the drinks giant Diageo's US and UK wine operations.

Approximately 57 per cent of entitlements were taken up in the retail offer, which opened on October 26. The balance were sold in a bookbuild on November 10, at a clearing price of $7.16 per share, the company said.