Cobram Estate Olives: Raises $2 million from share purchase plan

Cobram Estate Olives: Raises $2 million from share purchase plan

• Cobram Estate Olives (CBO) completes its share purchase plan (SPP) to raise $2 million for its core growth initiatives in Australia and the USA
• The SPP was offered with an issue price of $2, representing a 1.5 per cent discount to the share price on December 3
• The company received 254 valid applications for a total of $3.3 million with an average application value of about $13,000
• After a scale back, all eligible applicants will receive approximately 60 per cent of the shares they applied for
• Shares were trading down 0.25 per cent, trading at $1.99 each