Scandi Standard resolves on rights issue of approximately SEK 408 million
Scandi Standard's board of directors has resolved on a new share issue aimed at raising approximately SEK 408 million. The funds are intended to strengthen the company's balance sheet and financial position.
Stockholm-based food group Scandi Standard has announced a new share issue designed to raise approximately SEK 408 million (around EUR 36 million). The board of directors' decision involves the issuance of new shares, with the primary objective of bolstering the company's balance sheet and improving its overall financial standing.
The specific terms of the issue, including the subscription price and the subscription period, will be disclosed at a later date. The company confirmed its resolution on the capital raise at the end of July, addressing prior market speculation.
Scandi Standard is a prominent producer of poultry products across the Nordic region and Ireland, operating under several well-established local brands. In recent years, the group has navigated challenges such as rising operational costs and supply chain disruptions.
This capital injection is expected to provide a more robust financial foundation for Scandi Standard, enabling it to pursue its strategic objectives and continue its development within a competitive market landscape. Further details on the allocation of the raised capital are anticipated soon.