Cobram Estate Olives: Completes $50m placement

Cobram Estate Olives Completes $50m placement

• Cobram Estate Olives (CBO) completes a fully underwritten institutional placement, raising $50 million
• The placement consists 25 million shares issued at $2 per share which represented a 1.5 per cent discount from the previous closing share price of $2.03
• CBO says it will use the money to support growth initiatives in Australia and the US
• Cobram Estate also plans to offer eligible shareholders the opportunity to participate in a share purchase plan aiming to raise up to $1 million
• Shares have been up one per cent trading at $2.05