A2 Corporation has raised more than $10 million to build a new factory in Australia.
Cornerstone shareholders AMP Capital Investors and Freedom Foods Group, supplied almost half of the funding.
The alternative milk company says it's been planning the Sydney factory for a year, to support the growth of A2 dairy products Australia, a wholly owned subsidiary.
AMP Capital Investors will provide $3 million by buying 30 million shares at 10 cents each. Freedom Foods will buy 9.14 million shares to maintain its shareholding.
The shares are listed on the New Zealand stock exchange's alternative board.
A2 managing director Geoff Babidge says the company's bankers will lend the rest of the money for the factory, which will process fresh milk for the New South Wales market.
The factory is expected to be commissioned in the final quarter of 2011. Mr Babidge says the company will look for international markets in 2011.
