Combram Estate Olives (ASX:CBO) in capital raising

Olive oil producer Cobram Estate Olives is in a trading halt ahead of a proposed equity raising to be conducted by way of an institutional placement.

It is believed the company is seeking to raise $50m at $2 a share.

Cobram Estate Olives is Australia’s largest producer and marketer of extra virgin olive oil and owns 2.4m olive oil trees planted on 6500ha in Victoria.

The company expects the trading halt to last until the commencement of trading on December 7.

Shares in Combram Estate Olives (ASX:CBO) last traded at $2.03.