Treasury Wine raises $368m in share issue

Treasury Wine Estates CEO Michael Clarke.
Treasury Wine has raised $368 million to help its purchase of Diageo's US and UK wine operations. (AAP)

Approximately 89 per cent of Treasury Wine entitlements available to institutional investors have been taken up, raising $368 million.

Treasury Wine Estates has raised $368 million through a share issue to help fund its purchase of Diageo's US and UK wine operations.

Shares in TWE, which is buying most of the drinks giant's US and UK-based wine operations for $US552 million ($A761 million) and taking on another $US48 million of leases, will resume trading on Monday after being placed in a halt last Wednesday.

Approximately 89 per cent of entitlements available to institutional investors were taken up, with a retail component to open on October 26.

"We are thrilled with the strong support shown by TWEs shareholders and other institutional investors for both the equity raising and TWEs acquisition of Diageo Wine," TWE chief executive Michael Clarke said.

Source: AAP