from AFR
Chemical engineering solutions company SciDev is raising $20 million to upgrade and consolidate its NSW facilities and fund the milestone payments for acquired company Water Services, which over delivered on its EBITDA target.
The business, which focuses on solutions for wastewater reduction from industrial processes, is raising $18 million from institutional investors, while also undertaking a $2 million share purchase plan.
ASX-listed SciDev is raising $20 million. IstockThe business will also use part of the proceeds to fund green chemistry initiatives designed to displace oil-based chemistries, which it believes is an $11 billion market.The offer is priced at 65¢, representing a 9.7 per cent discount to its last trading price.
Canaccord Genuity is acting as lead manager and its broker were calling for bids by 5pm on Monday.
from AFRChemical engineering solutions company SciDev is raising...
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