Business

Lynas raises A$150m in institutional placement

November 12, 2012

SYDNEY, Nov 12 — Australia's Lynas Corp said it raised A$150 million (RM470 million) to help fund the start-up of its controversial Malaysian rare earths plant through a placement to institutional investors.

A further A$50 million will be sought from retail investors.

A court on Thursday lifted a suspension on Lynas's licence to operate the processing plant, sending Lynas shares up 12 per cent. Trading in the shares is suspended pending the completion of the capital raising. — Reuters

 

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