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Namoi Cotton cements $12m purchase plan
King & Wood Mallesons has advised Namoi Cotton Limited on an institutional placement and share purchase plan to raise $12 million.
Lauren Croft
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Firms: King & Wood Mallesons (KWM)
Deal: King & Wood Mallesons has advised Namoi Cotton Limited (Namoi Cotton) on a placement and share purchase plan for the company.
Value: $12 million approximately.
Area: Capital markets, equity.
Key players: The KWM team was led by senior consultant John Humphrey, partner Rhys Casey, senior associate Matt McKeown and solicitors Tamara Akl and Kate Cincotta.
Deal significance: According to the firm’s statement, Namoi Cotton will use the proceeds of the capital raising to be harvest-ready for the expected increase in cotton production in 2022 (FY23) and to fund strategic initiatives to strengthen and grow the business.
“It had been a pleasure supporting Namoi Cotton on this capital raising, which has received strong investor demand,” Mr Humphrey said.
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Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
