Kernel Holding Announces Results of Share Offering

Kernel Holding (KER PW: N/R) announced the results of the offering of its new shares: 5.4 mln shares were placed at PLN 36 (USD 15.5) per share, a 6.3% discount to the closing market price on the date of the offering. The offering raised USD 84 mln, or about 8.5% of the company’s issued capital before the offering. Proceeds are planned to be used on farming development projects.