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Wynnstay Group PLC - Powys, Wales-based agricultural supplies company - Plans to raise up to £10.5 million through a placing of shares, as a strong trading backdrop provides several opportunities to accelerate company growth.
Proceeds from the placing will go towards the redevelopment of the Calne feed facility, and finance future potential acquisitions by the company.
The placing will be conducted at a minimum issue price of 550 pence per share. Shore Capital will act as sole bookrunner.
‘We believe that this is an important fundraising for Wynnstay. It will support both the planned redevelopment of the Calne feed facility and assist with potential future acquisitions. While there are still challenges with cost inflation and supply chain pressures, sector sentiment remains strong, and the fundraising proceeds will enable us to accelerate growth plans,’ says Chief Executive Officer Gareth Davies.
Current stock price: 617.51 pence
12-month change: up 13%
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