- Skin Elements (SKN) enters a trading halt while it plans and finalises a placement
- The company hasn’t provided any details on how much it hopes to raise nor how it will spend the funds once received
- The healthcare product developer recently said it’s looking to expand its SuprCuvr range beyond its current use as a hospital-grade disinfectant by offering new products
- SKN shares last traded at 3.5 cents on October 21
Skin Elements (SKN) has entered a trading halt while it plans and finalises a capital raise.
So far, all that is publicly known about the raise is that it will be in the form of a placement but the amount and reason for the placement remains unclear.
Skin Elements is an Australian owned and operated healthcare company focused on the development of natural and organic health care products.
It has a portfolio of skin care brands including Elizabeth Jane, Papaya Activs, Soléo Organics, and SuprCuvr.
In a recent market update, the company said it’s looking to expand the SuprCuvr product range beyond its use as a hospital-grade disinfectant and by offering new products at different price points.
The company delivered its first order of the SuprCuvr hospital-grade disinfectant in March this year through a distribution deal with Pacific Healthcare.
Pacific Healthcare agreed to supply and market SuprCuvr to the mining, hospitality, education, health care, office and transport sectors.
The company expects the trading halt will be lifted by October 26, by which time it also expects the capital raise details will be announced.
SKN shares last traded at 3.5 cents on October 21.