Orocobre (ASX:ORE) has announced it has closed its retail entitlement offer, raising $45 million.
Eligible retail shareholders subscribed to approximately 4 million new shares worth $26 million, representing 58 per cent of the retail entitlement offer.
Approximately 2.9 million retail entitlements worth $19 million represent the retail shortfall bookbuild, which will commence on the market today.
Eligible retail shareholders were also given the option to trade their entitlements on the ASX, with about $750,000 retail entitlements traded on the market.
The institutional component of the entitlement offer raised approximately $34 million, taking the total entitlement offer to approximately $79 million.
Shares in Orocobre (ASX:ORE) closed 3.65 per cent higher yesterday at $6.53.