Stockmarket

Ocado to raise $704 million in placing of new shares



© Reuters. FILE PHOTO: An Ocado delivery van is seen driving in Hatfield, Britain February 26, 2021. REUTERS/Matthew Childs

LONDON (Reuters) – British online supermarket and technology group Ocado (LON:) plans to raise 575 million pounds ($704.2 million) through a placing of new shares to help fund its growth, it said on Monday.

The group has also agreed a new 300 million pound revolving credit facility, provided by a syndicate of international banks.

Ocado reiterated the full year guidance issued on May 25.

($1 = 0.8166 pounds)



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