Australian salmon farmer Tassal has entered a trading halt as it looks to shore up the base of a planned AUD 100 million (€72.6 million/$76.6 million) share offering.
The capital raising is designed to fund new growth initiatives as it tries to capitalize on rising domestic demand for salmon.
It centers on an AUD 80 million (€58.1 million/$61.2 million) placement to institutional investors -- currently underway -- as well as a AUD 20 million (€14.5 million/$15.3 million) share purchase plan, which will allow retail investors to also buy stock at a discount to its last traded price.
Tassal
