Ocado Raises £578M To Fund E-Commerce Solutions Biz

By Najiyya Budaly (June 21, 2022, 12:22 PM BST) -- Ocado said Tuesday that it has raised £578 million ($710 million) from a share placement with institutional and retail investors, as well as its senior management team, to help to fund its e-commerce solutions business for online grocery stores.

Ocado Group PLC said it raised approximately £575 million from a share placing to institutional investors. The FTSE 100 technology company said it also raised an extra £3 million by selling shares to retail investors and certain members of its senior management team, including the chief executive, chief financial officer and general counsel.

The placing priced the shares at 795 pence, a...

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