Altech Chemicals Ltd (ASX:ATC) has been granted addition time by the ASX to provide details of a capital raising, in the form of a voluntary suspension.
It is expected the voluntary suspension will be lifted on or before Wednesday 27 July 2016.
Perth stockbroking firm DJ Carmichael Pty Ltd and Hong Kong stockbroking firm Empire Capital Partners are arranging a placement to a variety of professional and sophisticated investors.
Funds raised will be applied to the detailed design of the company’s proposed high purity alumina (HPA) plant at Johor, Malaysia, the completion of debt financing for the project and for general working capital purposes.
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