A NEW refrigerated warehouse plus other proposed site developments has seen Brisbane Markets Limited embark on a capital raising venture.
The company is seeking to secure a total of up to $38.4 million.
In July, BML issued a prospectus to raise up to $15.96 million.
This follows a successful placement offer by BML to a small number of sophisticated investors which secured $22.44 million in early July 2018.
The prospectus was lodged with ASIC on July 19 and details the offer to shareholders of a non-renounceable rights issue of one new share for every 15 shares held at $3.20 per new share that is expected to raise up to $9.07 million.
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The prospectus also includes a public offer of 2.15 million new shares at an issue price of $3.20 to raise $6.89 million.
BML has appointed Morgans Corporate Limited as Lead Manager and Underwriter of the Rights Issue and the Public Offer.
BML recently commenced construction of a new 5578m2 refrigerated warehouse in response to ongoing demand for warehouse space and will make use of the capital raised to support the growth of the company and the ongoing development of the Brisbane Markets site
Interested parties should review the prospectus, a copy of which can be viewed at www.brisbanemarkets.com.au/prospectus/.
Applications under the Prospectus opened on August 2 and applications must be made on the form accompanying the prospectus.
The Brisbane Markets records annual trade of about 600,000 tonnes of produce valued at more than $1.5 billion.
