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Austin Engineering Ltd to fund growth in South America

Tuesday, 17 Dec 2013 02:23am EST 

Austin Engineering Ltd:Says to undertaking a placement to raise up to about A$30 million (before costs) to fund its South American expansion plans (Placement).Says it intends to enable its retail investors to participate in a Share Purchase Plan at the same price as the Placement which is expected to be made in Jan. 2014.Says funds raised under the Placement and any subsequent retail offer will be used to fund the following South American expansion initiatives: payment of Servigrut business, for capacity expansion and acquisition of Brazilian workshops. 

Company Quote

0.01 +1.37%
19 Dec 2014