LONDON, June 10 (Reuters) - Ocado, the British
online supermarket and technology group, plans to raise just
over 1 billion pounds ($1.3 billion) through an equity raise and
bond issue to give it the firepower to take advantage of future
opportunities.
The group said on Wednesday it would raise about 657 million
pounds through an equity placing and retail offer and about 350
million pounds through the issue of guaranteed senior unsecured
convertible bonds due 2027.
Ocado said the funds will provide it with the "financial
flexibility to capitalise on opportunities arising from the
significant acceleration in online adoption and grow faster over
the medium term".
($1 = 0.7843 pounds)
(Reporting by James Davey; Editing by Jan Harvey)
Ocado (OCDO)