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Comvita ( (NZ:CVT) ) has shared an update.
Comvita has completed a $40.5m capital raise, securing $30m through a pro-rata renounceable rights offer and a further $10.5m via a strategic placement, in a move that significantly strengthens its balance sheet. Existing shareholders took up 69% of the new shares on offer, rising to an effective 72% participation after oversubscriptions, helping limit dilution while signalling confidence in the company’s long-term strategy.
Singapore’s Fraser and Neave group, via F&N Ventures, will emerge with a 19.99% stake after partially underwriting the offer and taking a 13.2m-share placement at $0.80, joining PHC Investments as a substantial shareholder. The new strategic backing and fresh equity are intended to support Comvita’s next phase of growth, with management highlighting plans to sharpen commercial performance, deepen presence in priority markets and capitalise on category expansion opportunities in global natural health products.
More about Comvita
Comvita is a New Zealand-based natural health company and the world’s largest producer of UMF-certified mānuka honey, operating a vertically integrated supply chain from its own mānuka forests and beehives through to an international omni-channel distribution network. The company employs more than 400 people across New Zealand, Australia, Greater China, North America, Japan, Korea and Southeast Asia, and runs its own accredited laboratory and research programmes to support product quality, bee welfare and sustainable mānuka honey production.
YTD Price Performance: 44.14%
Average Trading Volume: 269,712
Technical Sentiment Signal: Sell
Current Market Cap: N$84.59M
For a thorough assessment of CVT stock, go to TipRanks’ Stock Analysis page.