Altech Chemicals Ltd (ASX:ATC) is a dynamic chemical processing group focused on advancing its high purity alumina (HPA) project.
See more information about Altech Chemicals Ltd
Altech Chemicals places shares with cornerstone investor
Altech Chemicals (ASX:ATC, FRA:A3Y) has completed a $2 million share placement to existing cornerstone investor, MAA Group Bhd (KLSE:MAA).
The placement shares will be issued at $0.14, which represents an 8% premium to the 12 April 2017 closing price.
Funds raised will be applied to the completion of detailed design and engineering of Altech's proposed Malaysian high purity alumina (HPA) plant.
The placement shares to MAA Group will be subject to the approval of Altech shareholders.
MAA Group is a Malaysian publicly listed insurance, investment, credit and finance group and its chairman and major shareholder Tunku Yaacob Khyra sits on Altech's board as a non-executive director.
Other Altech Chemicals Ltd news
- Altech Chemicals Ltd finalising design and engineering of HPA plant site
- Altech Chemicals Ltd bags A$10M institutional investment
- Altech Chemicals Ltd's Iggy Tan takes high purity alumina to China
- Altech Chemicals Ltd's Iggy Tan says timing perfect for HPA plant
- Altech Chemicals Ltd bags $1.75M balance from Meckering sale