New Zealand's largest salmon farmer, New Zealand King Salmon, announced a NZD 60.1 million (€37.6 million/$40.7 million) rights offer on Wednesday, as it plans to shore up hefty losses for its latest financial year.
Cash-strapped companies turn to rights issues to raise money. A company can grant shareholders the right to buy new shares at a discount to the current trading price.
"The past financial year has been challenging for the company due to issues with the wider environment, including increased mortalities and the ongoing COVID-19 pandemic," the company said in a statement.
