News and Announcements
Altech $2 Million Share Placement to Cornerstone Investor
- Published April 13, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- A$2 million raised via share placement to existing cornerstone investor
- Placement priced at $0.14 per share, an 8% premium
- Existing Malaysian shareholder MAA Group Berhad
- Funds applied to detailed design and engineering
Altech Chemicals Limited (Altech/the Company) (ASX:ATC) is pleased to announce a $2 million share placement (the Placement) to existing cornerstone investor, MAA Group Berhad (MAAG).
The Placement shares will be issued at 14 cents per share, which represents an ~8% premium to the 12 April 2017 closing price of the Company’s shares as traded on the Australian Securities Exchange.
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