Murray Cod Australia Ltd (ASX: MCA) announces a capital raise for accelerating growth.
Murray Cod Australia Ltd (ASX: MCA) has announced the launch of a fully underwritten institutional placement to raise approximately $30 million, and a non-underwritten Share Purchase Plan that aims to raise a further $3 million, to accelerate growth in production, drive further production efficiencies and capture global export opportunities.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.
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