Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Companies / Australia

Wesfarmers Interest Raises Hope Of Coles Rebuilding

January 2009 | Company Finance Alert

Diversified Australian conglomerate Wesfarmers has seen strong interest in its latest share issue. Now on course to raise AUD2.9bn (US$1.93bn) from the equity raising initiative, against the AUD2.8bn (US$1.86bn) initially forecast, Wesfarmers should be well positioned to pay off a large tranche of the AUD18.2bn (US$12.12bn) debt it encumbered itself with when it acquired Australia's second-largest retailer Coles in November

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