St Barbara wraps up $124m raising

St Barbara says it received strong support from existing shareholders for its $124 million capital raising, with the gold miner today completing the retail component of the offer.

The company today closed its oversubscribed four-for-13 rights issue offered to retail investors, raising $51 million.

St Barbara had already raised $73 million from the institutional component.

More than 99 per cent of the total proceeds from the offer were raised from existing shareholders.

"The balance sheet has been significantly strengthened and we have already contracted to buy back $15.25 million of convertible notes," chief executive Tim Lehany said.

"We in no way take shareholder support for granted and will continue to work tirelessly to deliver our 3 year plan and growth aspirations."

Shares in St Barbara closed down half-a-cent to 30c today.