Fresh fruit distributor Fyffes said it would place about 30 million ordinary shares in the capital of the company within its existing share authorities.
Fyffes said the net proceeds from the placing would be used to maintain its balance sheet strength and liquidity.
The funds would also be used for further acquisitions as part of the company's strategic objective to grow its business by "pursuing attractive acquisition opportunities across each of its four existing and other new product categories".
Recently the company announced its entry into the Canadian mushroom industry, with the acquisition of All Seasons Mushrooms for €41m earlier this month and the deal for Highline Produce Limited in April for €98m.
In a statement yesterday evening, Fyffes also said it was maintaining its strong full year target earnings ranges, which were increased in April following the Highline acquisition.
The company said its performance for the first half of the year was satisfactory given the difficult prevailing market conditions, including adverse currency movements as a result of the weakness of sterling and the euro against the dollar.
It said that Highline has performed in line with its expectations for the three-month period post acquisition.
"The first half results in the group's other product categories were in line with the same period last year in aggregate, with strong performances in the pineapple and melon categories," Fyffes said.
"The group remains confident about its future prospects and is well placed to compete strongly in its key markets," the company added.
