Tasmanian-based salmon farmer Tassal has entered a share trading halt pending an announcement about capital raising aimed at making the most of good growing conditions.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Tassal requested the trading halt in the lead-up to the announcement about the outcome of a placement of fully paid ordinary shares to institutional, sophisticated and other professional investors.
It told the ASX it intended to follow the placement with a share purchase plan.
"The purpose of the placement is to fund Tassal's strategic capital investment initiatives and strengthen its capacity to continue to invest in feeding and growing salmon to optimise biomass given current favourable growing conditions," Tassal said.
It asked that the trading halt remain until the earlier of the start of trading on Thursday or an announcement about the outcome of the placement.
