A2 Milk Company, is looking to raise $43 million through an underwritten sale of new shares to existing and institutional shareholders.
The money will be primarily used to expand the speciality milk producer's sales of its infant formula product in China, New Zealand and Australia.
The final price per share will be set by an offer to fund managers and brokers of $40 million worth of shares, with a minimum price of 67 cents a share, which compares with yesterday's closing price of 72 cents.
Existing small shareholders will then be able to buy up to $15,000 of shares at the same price, which will raise up to $3 million.
