Ocado not ruling out further equity capital raise before 2020
21 MAR 2018
Ocado [LON:OCDO] finance director Duncan Tatton-Brown has not ruled out the UK-based groceries delivery company launching another equity capital raise before 2020, The Daily Telegraph reported. Tatton-Brown, speaking on Tuesday, 20 March, said Ocado’s shareholders know that the company will turn to them if it secures more deals.
Ocado raised GBP 143m (EUR 163.4m) from a placing of new shares in February, the item noted.
Tatton-Brown added that Ocado hopes to raise further equity in future as that would mean it has inked more deals.
The finance director was speaking as Ocado released its 1Q18 trading statement, which showed an 11.7% year-on-year increase in revenue (Retail) to GBP 363.4m.
Ocado’s market capitalisation stood at GBP 3.58bn at the close of trading in London on Tuesday.