Cobram Estate Olives in trading halt ahead of capital raise

The news: Olive oil producer Cobram Estate Olives has entered a trading halt on the ASX ahead of a proposed capital raise.

The numbers: Cobram shares last traded at $3.23, having more than doubled (+103%) in value over the last 12 months.

The context: The company said it requested the trading halt to "assist in managing its disclosure obligations and to maintain an orderly market, in connection with a proposed capital raising via institutional and sophisticated investors."

Trading of Cobram shares will remain halted until the earlier of an announcement on the outcome of the capital raise, and the start of trading on Wednesday.