Speciality milk producer A2 Corporation is to raise $20 million from shareholders to fund its global growth plans.
The firm sells fresh milk in Australia, infant formula in China, and milk through supermarket chains in the UK.
A2 Corporation's three largest shareholders will sell some of their shares to new and existing investors at 50 cents a share.
The offer price is a nearly 23% discount to the average trading price since the end of October.
The company says it will use the cash to increase its market share in the UK liquid milk market and the Chinese infant formula market.
It is also eyeing the liquid milk market in China, with UHT sourced from Australia and New Zealand.
A2, which is currently listed on the alternative market, has also applied to enter the NZX's main board.
A listing on the NZX50 would increase access to capital.
A2 intends to appoint additional independent directors to help develop new markets in Europe and the Asia Pacific.
