SYMEX RECEIVES SUBSCRIPTIONS UNDER RIGHTS ISSUE FOR APPROXIMATELY $18.3 MILLION
Tuesday, 4th December 2012
M&A Partners acted as corporate advisor and arranger for the recently announced $23.5m placement and rights issue for Symex Limited (ASX: SYM). This capital raising is part of a broader business and debt restructuring of the company. Symex announced on 4th December 2012 that it had received $18.3 million of subscriptions under the Entitlement Offer. This is well in excess of the minimum subscription of $10 million under the prospectus for the Offer and will enable the Company to undertake its restructuring namely, to fund the closure of its Specialty Chemicals business and relocate its bleach plant to its Shepparton site to enable Symex to focus on its core consumer products business.