Altech Chemicals: Raises $8.1m for battery coating plant

Altech Chemicals: Raises $8.1m for battery coating plant

• Altech Chemicals (ATC) raises $8.1 million through an oversubscribed share placement
• The company also aims to raise an extra $4 million through a share purchase plan, which will allow eligible shareholders to subscribe for up to $30,000 worth of shares
• Overall, the money is being applied to the construction of a 10,000 tonnes per annum battery materials coating plant in Germany
• Specifically, the money will support construction and the completion of preliminary and definitive feasibility studies
• Company shares are down 10.7 per cent to trade at 12.5 cents