Uranium producer Paladin Energy Limited
(ASX:PDN) has unveiled a $205 million capital raising and a number of measures to recapitalise the company.
The Africa-focused miner will raise the money through issuing new shares and says it expects to be fully funded until at least June 2016.
A placement of shares has been made to Hopu Investments for $61 million at 42 cents per share.
Following the transaction Hopu will emerge with a stake of at least 13 per cent of Paladin Energy.
An entitlement offer will also be offered to existing shareholders to raise an extra $144 million at 26 cents per share.
Paladin Energy reported a net loss of $413.5 million in the 2014 financial year.
