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Altech Chemicals has a new substantial shareholder

The company is developing a high purity alumina (HPA) plant in Malaysia.
concept of growth using four jars in a line
Altech intends to feed the HPA plant with its kaolin mine in Western Australia

Altech Chemicals Ltd (ASX:ATC) has a new substantial shareholder, SMS Investments SA.

The new major shareholder holds an 8.04% stake through its 38.9 million shares.

The investment is related to the recently outlined equity support from German engineering firm SMS group GmbH.

READ: Altech Chemicals attracts US$11M funding for Malaysian alumina project

Notably, today, Altech’s application for project finance export credit cover was decided positively by the relevant German government committee.

READ: Altech Chemicals shares rise as project financing is advanced

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Altech Chemicals Ltd Timeline

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