June 22, 2017 / 11:32 PM / a month ago

BRIEF-Bega Cheese updates on institutional placement and share purchase plan

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June 23 (Reuters) - Bega Cheese Ltd

* Announce a non-underwritten institutional share placement to raise approximately A$122.5 million

* SPP is expected to raise up to A$37.5 million and is not underwritten.

* Proceeds from institutional placement and spp will be used to improve Bega Cheese's financial flexibility to take advantage of future growth opportunities in dairy and food

* Offer of about 22.9 million new fully paid ordinary shares, about 15% of Bega Cheese's issued capital at issue price of A$5.35 per share

* New Bega Cheese shares issued under spp will rank equally with existing bega cheese shares

* To raise approximately A$160M via an institutional placement and share purchase plan Source text for Eikon: Further company coverage:

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