- Fish farmer Huon Aquaculture Group (HUO) has raised $64 million through a fully underwritten institutional placement
- A total of 21.3 million new fully paid ordinary shares were issued to institutional and sophisticated investors at $3
- Due to a challenging year, the company spent $64.3 million which was mainly funded from renegotiated debt facilities
- Huon Aquaculture will use the funds to reduce net debt and strengthen its balance sheet and liquidity position
- Additionally, Huon hopes to raise up to $4 million through a share purchase plan to eligible shareholders
- Company shares closed 5.85 per cent in the red to trade for $3.06
Huon Aquaculture Group: Raises $64M to improve financial position
