Business
Infant formula outfit Bubs launches raising for China JV – The Australian Financial Review
ASX-listed infant formula outfit Bubs Australia has launched an equity raising to fund its acquisition of a stake in a Chinese manufacturing facility.
About 30 per cent of the money raised was pegged to buy a stake in Beingmate’s infant formula manufacturing facility in Beihai China, as part of an agreement signed between the two companies that was announced last week.
The deal would see a Chinese-labelled infant formula canned and packaged at the Beihai plant, using Bubs’ Australian goat milk.
Bids into the placement were due by midday on Tuesday,
Meanwhile, PAC Partners was also in the market on Monday morning, alongside Foster Stockbroki…
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