Goodman Fielder retail offer comes up short

Goodman Fielder, the food company once owned by New Zealand billionaire Graeme Hart, has come up short in the retail component of a A$259 million capital raising.

Goodman Fielder will offer for sale under the retail shortfall bookbuild approximately 60.6 million new shares that were not taken-up in the retail part of the capital raising.

The institutional component of the offer was completed on Sept. 29, raising A$190 million.

Retail shareholders purchased 101.1 million shares, raising a further A$45.5 million, but leaving 60.6 million shares unsold.

The retail shortfall bookbuild will commence after market close on Oct. 26.

The proceeds from the capital raising are being used to give greater balance sheet flexibility.

BusinessDesk.co.nz

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