Comvita Launches NZ$30m Rights Offer to Support Bank Refinancing

The latest update is out from Comvita ( (CVNZF) ).

Comvita has opened a pro-rata renounceable rights offer to raise up to NZ$30 million as part of a wider capital-raising effort to refinance its bank facilities and strengthen its balance sheet. The offer, partially underwritten by Singapore’s Fraser and Neave Group via F&N Ventures, will also introduce F&N as a strategic shareholder, potentially deepening Comvita’s access to Southeast Asian consumer markets and reinforcing its international growth ambitions.

Eligible shareholders can subscribe for one new share for every 1.53 shares held at an offer price of NZ$0.65, a modest discount to both the last traded price and the theoretical ex-rights price. Rights will trade on the NZX Main Board, and investors who fully take up their entitlements may apply for additional shares via an oversubscription facility, giving existing holders flexibility to adjust their positions while providing Comvita with greater certainty of funds raised.

More about Comvita

Comvita, listed on the NZX, is a New Zealand-based natural health company and the world’s largest producer of UMF-certified Mānuka honey. Founded in 1974, it runs a vertically integrated supply chain from its own Mānuka forests and beehives through to global omni-channel distribution, backed by in-house laboratory testing, scientific research, and large-scale native tree planting. Comvita operates across New Zealand, Australia, Greater China, North America, Japan, Korea and Southeast Asia, and is a certified B Corp focused on sustainable, high-quality bee products.

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