Highlights

  • Comvita successfully completed a $40.5 million Capital raise through a Rights Offer and Strategic Placement.
  • Singapore-based F&N Ventures acquired a 19.99% stake, becoming a strategic Shareholder.
  • Strong shareholder participation reflected confidence in Comvita’s turnaround and growth strategy.

Overview

Comvita Limited (NZX:CVT) has successfully completed a $40.5 million capital raise, combining a $30 million Rights Offer with a $10.5 million Strategic Placement aimed at strengthening its Balance Sheet and supporting Long-term Growth plans. The Rights Offer received strong backing from existing shareholders, with effective participation reaching 72% after additional share allocations under the Oversubscription Facility. A key development from the raise was the entry of Singapore-based F&N Ventures Pte. Ltd as a strategic investor with a 19.99% holding in Comvita. Management believes the fresh capital and new strategic Partnership position the company for stronger commercial execution, market expansion, and long-term shareholder value creation.

Why Is F&N’s Investment Considered a Major Milestone for Comvita?

F&N Ventures’ entry onto Comvita’s share register is being viewed as a transformational step for the company’s future growth ambitions. Backed by Southeast Asian consumer giant Fraser and Neave, Limited, F&N brings extensive regional market expertise, distribution capabilities, and strategic relationships that could help accelerate Comvita’s expansion across Asia. The investment also signals growing confidence in Comvita’s turnaround strategy and long-term Brand potential. Management highlighted that the strengthened balance sheet, combined with access to F&N’s consumer network, creates new opportunities to expand brand reach, improve operational performance, and capture future growth across key international markets.

How Strong Was Shareholder Support for the Rights Offer?

Comvita’s Rights Offer received solid support from existing shareholders, with 31.8 million new shares taken up initially, representing 69% of the shares offered. Demand through the Oversubscription Facility added further momentum, prompting the company to allocate an additional 1.5 million shares so participating shareholders could better maintain their ownership positions following the strategic placement. The remaining shortfall was allocated to F&N as part of its strategic investment. Company Leadership described the successful raise as a strong endorsement of Comvita’s restructuring progress, improved financial position, and future growth strategy after a challenging operational period.