Ocado completes £1bn raising to fund cash in on online boom

(Sharecast News) - Online retailer Ocado on Thursday said it had successfully raised just over £1bn to exploit the rapid change in internet grocery shopping habits sparked by the coronavirus crisis.
Investors handed Ocado £657m through a placing and £350m via a debt issue of unsecured bonds due to mature in 2027.

The company on Wednesday cited industry data from Nielsen revealing online penetration of the UK grocery market had almost doubled to 13% in recent months compared with 7% before the pandemic broke out.