Altech Chemicals Limited (Altech/the Company) (ASX: ATC) (FRA: A3Y) is pleased to announce that it has received commitments from a variety of institutional and professional investors for a share placement of ~A$17 million (before costs). Proceeds from the placement will be applied to the commencement of construction at the Company’s high purity alumina (HPA) plant site in Johor, Malaysia; to finalise HPA plant engineering; for corporate purposes (including the close of project finance); and working capital.
Share placement raises A$17 million
Share Purchase Plan to raise up to an additional A$3 million
Funds will be used to commence construction in Johor, Malaysia
Strong support from a range of institutional and professional investors
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