Cobram Estate Olives completes share issue to fund US expansion

Australia's Cobram Estate Olives (CBO) has received commitments for funding of A$175m ($115.6m) to fund its US expansion. CBO said it had completed a share placement with institutions priced at A$3.2 per share. The company plans to raise an extra A$10m through a non-underwritten "share purchase plan". In a statement yesterday (9 September), the producer of the Cobram Estate olive-oil brand said the funds will be directed towards buying land on which it would develop around 1,600ha of olive groves. CBO ...