27 Sep 2011

Goodman Fielder to raise $A259 million

12:31 pm on 27 September 2011

Goodman Fielder is planning to raise $A259 million to bolster its balance sheet.

The Australasian food group says it will raise the money through a share issue based on five new shares for every 12 currently held at 45 Australian cents each.

Trading in Goodman's shares had been halted. It last traded in Australia at 59 cents each.

Goodman Fielder lost $A167 million in the year to the end of June, a turnaround from the $A161 million profit recorded a year earlier.

Its brands in New Zealand include Meadowlea, Vogels and Edmond's.