Major food processor George Weston Ltd has revealed its intention to appoint underwriters, led by RBC Capital Markets, to sell eight million 5.80% series I preferred shares at the price of US$25 each.
Options to purchase a further two million shares will be available to 30 November.
If all the options are exercised in full, the company revealed that maximum gross proceeds will reach US$250m. these funds will be used for general corporate purposes and to refinance other debt.
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