News and Announcements
Altech Raises $10 Million in Oversubscribed Share Placement
- Published July 27, 2016 1:43PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
27th July 2016, ASX Announcement
Highlights:
- $10 million raised via share placement to institutions, professional and sophisticated investors
- Placement was heavily oversubscribed
- A range of quality institutional investors join Altech’s share register
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) has welcomed a number of institutional investors onto its share register as a result of a $10 million oversubscribed share placement (the Placement). Placement shares will be issued at 14 cents per share, which represents a 14% discount to the price of the Company’s shares at the close of trade on the Australian Securities Exchange (ASX) on 21 July 2016.
Funds raised from the Placement will be applied to finalising the detailed design of the Company’s proposed Malaysian high purity alumina (HPA) plant, completion of independent due diligence associated with finalising debt financing, closure of debt financing and general working capital purposes.
To view the full announcement, please click on the button below.
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