Synlait announces $217.8m capital raise
Shareholders Bright Dairy and A2 Milk will support a placement to avert insolvency.
A special meeting of shareholders is scheduled for September 18 at Synlait's Dunsandel facility and online.
Debt-laden milk processor Synlait will raise $217.8 million from its main shareholders Bright Dairy and A2 Milk in a crucial share offer to avoid insolvency.
In a statement to the NZX late on Tuesday, Synlait said its 39% shareholder Bright Dairy had agreed to subscribe for $185m of new shares at
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