The company intends to raise a maximum of $3 million via the SPP to be applied towards its proposed high purity alumina (HPA) plant in Malaysia.
Altech will use the funds to finalise the detailed design of the HPA plant, preparation of the plant site for construction, commencement of site works and ordering long lead-time plant and equipment.
The SPP is in addition to the recent $17 million share placement to institutional and professional investors.
The offer of shares under the SPP opened today and closes on Tuesday, 31 July 2018.
Altech is equity funding the first stage to maintain project momentum, with the works being conducted concurrently with project finance close.