Slaughter and May advised Ocado Group plc on a placing of approximately 4.9% of its existing ordinary share capital which raised gross proceeds of £143,158,925. The placing, which announced on 6 February 2018, was conducted as an accelerated bookbuild process. Goldman Sachs International and Numis Securities Limited acted as joint bookrunners and joint corporate brokers in connection with the transaction.
The proceeds will be used to facilitate the signing of new Ocado Solutions partnerships globally, to commit funding to associated investment capital expenditure and to increase Ocado’s technology engineering and software capabilities. The proceeds will also enable Ocado to bring forward investment in its customer fulfilment centres located at Erith and Andover in order to accelerate their fulfilment capacity.