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Australia's Alumina to raise $710 million

Mon Aug 25, 2008 4:13am EDT

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SYDNEY, Aug 25 (Reuters) - Australia's Alumina Ltd (AWC.AX) plans to raise A$910 million ($710 million) via a A$3.00-a-share rights issue to fund capacity expansion to meet growing global demand for alumina and aluminium, the firm said on Monday.

Alumina's alumina and aluminium operations are run under a joint venture with Alcoa of Australia, which is 60 percent owned by U.S. based Alcoa Inc (AA.N) and 40 percent by Alumina. ($1=A$1.15) (Reporting by James Regan, Editing by Mark Bendeich)



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