On 25 June, Limoneira closed the placement of more than three million shares at a price of 22 dollars per share. The American company, active in the production, packaging and sales of citrus and real estate, raised 69 million dollar gross with the additional share issue. Net, about 64.5 million dollar will be left. Limoneira will use the money to finance the acquisition of Fruticola San Pablo. On 20 June, Limoneira announced the acquisition of the Chilean company. Limoneira will pay 13 million dollar for the takeover. Besides, the capital can be used for other acquisitions or other company purposes.
Please click here for more information about the share issue.