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Altech Chemicals raises $2.8 million in SPP

The company is focused on developing a high purity alumina (HPA) plant located in Johor, Malaysia.

Altech Chemicals Ltd - Altech Chemicals raises $2.8 million in SPP
Over 300 shareholders participated in the share purchase plan (SPP)

Altech Chemicals Ltd (ASX:ATC) has received applications from shareholders to raise $2.8 million through the issue of new shares under a share purchase plan (SPP).

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.

Quick facts: Altech Chemicals Ltd

Price: 0.091 AUD

ASX:ATC
Market: ASX
Market Cap: $73.65 m
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Full interview: Altech Chemicals progresses HPA plant construction in...

Altech Chemicals Ltd (ASX:ATC) managing director Iggy Tan updates Proactive on HPA plant construction activities at the company’s high purity alumina (HPA) plant site in Johor, Malaysia. The majority of Stage 1 construction is nearly complete, the workshop building and OSD Tank walls have...

on 19/9/19

2 min read