- AustChina Holdings (AUH) raises just over $980,000 through an upcoming capital raise
- The company is issuing shares at 0.6 cents each to sophisticated and professional investors
- One attaching option at 1.2 cents will be issued to investors for every two shares issued under the placement
- Funds from the raise will be issued for energy-generating technologies, mineral exploration and working capital
- AUH has entered a trading halt ahead of this capital raise with shares last trading at 0.8 cents apiece
AustChina Holdings (AUH) is raising $980,400 through an upcoming capital raise.
The company is issuing shares at 0.6 cents each to sophisticated and professional investors. One attaching option at 1.2 cents will be issued to investors for every two shares issued under the placement.
Funds from the raise will be issued for energy-generating technologies, mineral exploration and working capital.
AUH is reviewing technologies that have the potential for using inorganic and organic solid fuel inputs, including waste materials and coal, to produce energy and potentially other products.
The company is also exploring opportunities to gain additional exposure in the copper space.
AUH has entered a trading halt ahead of this capital raise. Trading in company shares will be paused until Wednesday, August 4, or when it completes the raise.
The company continues to hold 25.14 per cent in Utilitas Group, a company specialising in the design and delivery of process plants in the emerging biogas industry in Australasia.
AustChina last traded at 0.8 cents per share.