Bubs Australia says it has successfully raised $28.3 million via a share placement that was heavily oversubscribed, with strong support from new and existing institutional investors.
The infant formula maker announced a $38 million capital raising – which includes a share purchase plan for up to $10 million at 80¢ per share – on August 31 when it released its full year results.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
