Blackmores raising $117m to bolster balance sheet

Marcus Blackmore is sitting out the company’s $117m equity raising. Picture: AAP

Blackmores is raising $117m through Goldman Sachs to strengthen its balance sheet.

The funds will also be used to fund Asian growth initiatives.

The company will secure $92m through a placement and $25m through a share purchase plan.

Shares are being sold at $72.50, an 8.1 per cent discount to their last closing price of $78.85 on Tuesday.

Namesake Marcus Blackmore and the Blackmore Foundation will not take part in the equity raise, but say they are still committed as long term shareholders.