Select Harvest rejects Arab takeover, launches $65m local capital raising
10 October 2017
Select has already placed 10.7m new shares worth about $45m with institutional investors.
It will offer more shares worth about $20m to existing shareholders in the Victorian-based orchard operation – Australia’s biggest almond business.
The new share purchase price is $4.20, or possibly less for existing shareholders, which is well below the $5.85 suggested last month by the United Arab Emirates’ sovereign investment arm, Mubadala Investment Company in Abu Dhabi.
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