Metcash concluded a $300 million institutional placement, issuing 89.6 million new shares at $3.35 per share.
The oversubscribed placement, fully underwritten, garnered strong interest from existing and new investors. Eligible institutional shareholders were fully allocated their pro-rata share.
The proceeds will fund its recent three acquisitions, enhancing portfolio diversification, resilience, and facilitating growth.
Metcash also plans to offer eligible shareholders in Australia and New Zealand the opportunity to purchase up to $30,000 worth of shares under a share purchase plan.