Sign up Australia
Proactive Investors - Run By Investors For Investors

Altech Chemicals to follow $17 million placement with share purchase plan

Funds to be applied towards the company's proposed high purity alumina (HPA) plant in Malaysia.
dollars
The offer closes on Tuesday, 31 July 2018

Altech Chemicals Ltd (ASX:ATC) is offering all existing eligible shareholders the opportunity to purchase up to $15,000 of new shares via a share purchase plan (SPP) at 16.5 cents per share.

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.

READ: Altech Chemicals raising $20 million to begin constructing Malaysian HPA plant

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.

READ: Altech Chemicals signs US$60 million stream finance facility for alumina project

View full ATC profile View Profile

Altech Chemicals Ltd Timeline

Related Articles

The Australian Securities Exchange board and Aussie flag
November 06 2018
Chairman James D Calaway gives us the lowdown as the company prepares to begin trading as ioneer Ltd today.
A manganese sample from the Bryah Basin Project
October 02 2018
Emerging new applications for manganese in batteries and energy storage are seen as exciting opportunities.
project works
September 11 2018
The project is close to underutilised rail, road and gas infrastructure with access to key Asian markets through the Port of Darwin.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use