Business
Infant formula company Bubs seeks $38 million of funds to grow bigger – Sydney Morning Herald
Bubs boss Kristy Carr says the company’s investment in a new facility in China will shield it from the growing diplomatic tensions between Canberra and Beijing.
The capital raising includes $28.3 million via an institutional placement, and up to $10 million via a share purchase plan. The shares will be issued at 80¢ each, which is 12.6 per cent below the stocks closing price of 91.5¢ on Friday before the raising was announced.
Bubs does not currently have the necessary regulatory approval to sell Chinese label goat milk infant formula products in the country’s retail stores. But the Beihai factory is certified to produce infant formula for the China ma…
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