From AFR
Stockbroker Petra Capital has launched a $20 million equity raising for ASX-listed "high purity alumina" project owner Altech Chemicals.
Petra was offering clients new shares in Altech at 16.5¢ each, which was a 13.2 per cent discount to the last close and a 16.3 per cent discount to the 10 day volume weighted average price.
Funds raised were for pre-construction site works and finalisation of plant engineering, according to terms sent to fund managers.
Petra was calling for bids into the placement by 2pm on Friday.
The placement was part of a targeted $20 million raising, which also includes a $3 million share purchase plan at the same price.
ATC Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
