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AUSTRALIA: Cabonne raises A$8m in rights issue

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Cabonne, the Australian winemaker, announced today that it had raised A$8.09m through a renounceable rights issue of ordinary shares. The company also plans to raise another A$12.5m with a placement of converting preference shares to exploit a strong demand in sales.   The success of the rights issue, the company said today, reflected the appreciation of the progress made by the company on its strategy of becoming a fully integrated multi-branded wine company with established international distribution channels.


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