Blackmores (ASX:BKL) looks to raise $117 million

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Australian health supplements company Blackmores (ASX:BKL) is undertaking a fully underwritten $92 million institutional placement and non-underwritten Share Purchase Plan of up to $25 million to eligible shareholders.

The raise is to provide balance sheet strength and additional flexibility to pursue growth opportunities.

Underlying profit remains in-line with expectations and guidance provided at 1H 20 results.

Shares in Blackmores (ASX:BKL) are currently in trading halt – Last traded at $78.85.
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Source: Finance News Network