|
|
Article: NZ CHEM CO NUPLEX SEEKS US$57 MLN VIA RIGHTS ISSUE.
- Article from:
- AsiaPulse News
- Article date:
- March 16, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MELBOURNE, March 16 Asia Pulse - New Zealand-based chemicals and building products supplier Nuplex Industries Ltd (ASX:NPX) is seeking to raise NZ$110 million (US$57.72 million) through the issue of new shares, to reduce the company's debt.
The capital will be raised through an institutional placement and a rights issue to existing Nuplex shareholders.
The terms of the placement and the rights issue, including the amount of new capital to be raised by each method, will be confirmed following completion of a book-build process.
"The new capital to be raised from the placement and the rights issue will, in the opinion of the directors, be ...