Breville Group has successfully completed its A$10 million underwritten share purchase plan, undertaken at an issue price of A$17 per share.
This closely follows its fully underwritten A$94 million placement to eligible institutional investors, which was completed in May. Shares were also issued at A$17 each.
Breville has said that this increased liquidity will be invested in product development, marketing, and international expansion, as these areas have underpinned the company’s growth over the last five years.
“We are very pleased with the demonstration of support under both the SPP [Share Purchase Plan] and the Placement, and we are delighted that both retail shareholders and institutional investors have had the opportunity to participate in this capital raising exercise,” said Jim Clayton, CEO of Breville.
In Breville’s last trading update, provided in May, the company revealed that its revenues rose by 25.4% in H1 FY20, totalling $552 million.
Following the announcement of the completion of its A$10 million share purchase plan, Breville’s share price is up 1.5% today, at $22.87.
Breville ASX 17.06.2020
