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Comvita Announces Public Offering
News Release February 27, 2004
Comvita Announces Public Offering
NZAX listed natural health products company, Comvita Limited, today announced an up-coming subsequent public offering of $7.5 million.
Comvita chairman Bill Bracks, says the offer will give the company working capital and the balance sheet strength to develop warehouse and other facilities, develop its medical honey business and consider further acquisitions.
"While the interests of existing holders will be looked after via a priority pool, the offer will also be used to broaden the company's shareholder base to at least the 500 minimum requirement for NZSX listed companies," says Bracks. "Comvita currently has a shareholder base of 220."
The offer, which is being managed by ABN AMRO Craigs, is expected to be carried out in April. An investment statement relating to the offer is expected to be announced next month.
END
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