Financial Wire

Fraser and Neave to Invest in New Zealand's Comvita for 20% Stake

-- Fraser and Neave (SGX:F99) plans to invest up to NZ$20.1 million in the fundraising of Comvita (NZE:CVT), a provider of manuka honey and natural health products, according to a Wednesday filing with the Singapore Exchange.

Under the deal, Fraser and Neave subsidiary F&N Ventures will act as the sole underwriter of Comvita's renounceable entitlement offer to raise around NZ$30 million at NZ$0.65 per share.

The investment will give the food and beverage company a shareholding of around 19.99% in Comvita.

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