Select Harvests Completes Major Fundraising

Select Harvests (AU:SHV) has released an update.

Select Harvests Limited has announced the successful raise of approximately $61.7 million through an institutional equity offering, with a broader goal of securing a total of $80 million after a subsequent retail offering. The funds are earmarked for debt repayment, facility enhancements, and associated costs. The company’s retail offering will enable existing shareholders to purchase new shares at the same price as the institutional investors, with trading of these new shares expected to commence by the end of September 2024.

For further insights into AU:SHV stock, check out TipRanks’ Stock Analysis page.