Australian supermarket operator Foodland Associated said today [Tuesday] that it had completed a A$300m (US$168m) capital raising programme it needs to follow through its acquisition of Woolworths New Zealand.
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The NZ$690m (US$335.5m) acquisition of Woolworths New Zealand has come under close scrutiny from regulatory authorities but now appears to be going ahead.
The institutional share placement and 1-for-10 rights issue were both conducted at A$18.20 a share, Foodland said in a statement.
The balance of the equity raising will comprise a 1-for-10 rights issue for retail shareholders, also at A$18.20 a share.
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