News
LEGAL | Staff Reporter, Australia
view(s)

Oliver's Real Food targets raising up to AU$ 7.4 million for brand revamp

Aside from a recently-completed placement, the chain is raising funds through an entitlement offer.

Oliver's Real Food is aiming to raise up to AU$ 7.4 million in equity funding to improve the performance of the brand.

The healthy fast food chain recently announced the successful completion of a placement to existing and new institutional investors raising approximately AU$3.5 million, and is planning a 1 for 6 pro rata non-renounceable entitlement offer aimed to raise a further AU$3.9 million.

Under the entitlement offer, eligible shareholders will be able to subscribe for one new share for each six shares held at an offer price of AU$0.11 per new share.

The raised funds will be used to accelerate Oliver's consolidation program and continue store development and rollout.

According to their outlook, they expect revenue of between AU$40 to AU$43 million, with a reported EBITDA of between AU$1 and AU$1.5 million.

Currently at 28 stores, the brand is expecting to grow by 35 to 38 sites by 2020.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.