Greencore raises $302m as shares rise

GREENCORE, the convenience food and agri-business group has raised $302m long-term debt with US institutions, it was announced yesterday.

Shares in the company jumped 30 cents on Monday following the announcement that billionaire financier Dermot Desmond had lifted his stake by 6% to 22% in the group late last Friday.

Greencore’s shares hit an 18-month high yesterday, climbing to €3.25 and closing at €3.20, having ended Monday at €3.10.