Applications will be accepted in full and the new shares are expected to be allotted on Wednesday 8 January 2020 at an issue price of 9.75 cents.
Altech’s managing director Iggy Tan said: “The company is extremely pleased with the number of applications for new shares that it received from shareholders under the SPP.
“In excess of 300 shareholders participated, which is an excellent outcome – especially considering the timing of the SPP just prior to the Christmas/New Year period.
Construction work at HPA plant site continues as scheduled
“Work at the company’s Malaysian high purity alumina (HPA) plant site continues, with construction of the electrical sub-station progressing in accordance with the construction schedule.”
Proactive last caught up with Altech for an update in September 2019.