Australian Vintage plans to raise up to $4. million through the retail component of its accelerated non-renounceable entitlement offer.

The offer, set at 20 cents per new share, is available to eligible retail shareholders on a two-for-seven basis.

The entitlement offer begins for eligible shareholders as of June 13.

"The objective of this fundraising is to increase liquidity and working capital, providing us with enhanced financial flexibility to navigate challenging industry conditions while continuing to execute on our strategic plan," said Peter James Perrin, Acting CEO and non-executive director of Australian Vintage.