PDN 5.86% $10.13 paladin energy ltd

News: Paladin Energy unveils $205M capital raising

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    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.
 
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