SUNRAYSIA dried fruit business Murray River Organics will this week pitch its plans to raise $25 million to retail investors.
The ASX-listed company, which uses the share code MRG, has been in a trading halt since November as it sought to raise additional capital.
It was announced in a statement on Monday that the period for institutional investors to participate in the raising had been completed, raising about $8.62 million.
MRG said new shares in the company were being offered at a price of $0.015 per share.
All eligible institutional shareholders had elected to take up 100 per cent of their entitlements, according to the statement.
The retail component of the raising starts on Thursday and was expected to close on February 25.
A timeline issued by MRG expected the issue of new shares to retail investors to take place on March 4, with its voluntary suspension of trading to be lifted the following day.
