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Cobram Estate Olives Ltd. ( (AU:CBO) ) has issued an update.
Cobram Estate Olives Limited has announced the opening of a non-underwritten Share Purchase Plan (SPP) aimed at raising up to $10 million at $3.20 per share. The funds from this SPP, in conjunction with a previously announced $175 million institutional placement, will be used to further the company’s growth strategy in the United States, including acquiring additional farmland and developing 1,600 hectares of olive groves. This strategic move is expected to strengthen CBO’s market position and expand its operations in the U.S., benefiting stakeholders by enhancing the company’s production capabilities and market reach.
The most recent analyst rating on (AU:CBO) stock is a Buy with a A$3.44 price target. To see the full list of analyst forecasts on Cobram Estate Olives Ltd. stock, see the AU:CBO Stock Forecast page.
More about Cobram Estate Olives Ltd.
Cobram Estate Olives Limited (CBO) is Australia’s largest vertically integrated olive farmer and marketer, specializing in premium quality extra virgin olive oil. The company owns renowned brands such as Cobram Estate® and Red Island® and operates extensive olive farming assets in both Australia and California, USA. CBO holds a significant position in the Australian olive industry and is a global leader in sustainable olive farming, with operations extending to export customers in 12 countries.
Average Trading Volume: 590,077
Technical Sentiment Signal: Buy
Current Market Cap: A$1.35B
For detailed information about CBO stock, go to TipRanks’ Stock Analysis page.