LaserBond (ASX: LBL) has been granted a trading halt by the ASX subject to an announcement relating to a capital raising.
The company confirmed that the monetary amount of the planned capital raising was material, but gave no indication of where funds raised would be allocated.
LaserBond specialises in reclaiming worn industrial parts at less cost than replacing the parts, offering thermal spraying and laser cladding services.
The company’s shares will remain in pre open until the earlier of the release of an announcement to the market or the commencement of normal trading on Friday May 11.
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