Treasury Wine raises $368m in share issue

Treasury Wine raises $368m in share issue

Treasury Wine Estates has raised $368 million through a share issue to help fund its purchase of Diageo’s US and UK wine operations. Shares in TWE, which is buying most of the drinks giant’s US and UK-based wine operations for $US552 million ($A761 million) and taking on another $US48 million of leases, will resume trading on Monday after being placed in a halt last Wednesday. Approximately 89 per cent of entitlements available to institutional investors were taken up, with a retail component to open on October 26.

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