ALS stumps up cash

MINING services business ALS lost a quarter of its market value this morning after completing the first part of a capital raising aimed at strengthening its balance sheet.

The company raised $A168 million from the institutional component of its 5-for-21 entitlement offer, which is fully underwritten to the tune of $325 million.

  • FREE coverage on the rapidly developing coronavirus pandemic. Visit our COVID-19 hub.
  • Latest COVID-19 Coverage: Pandemic no impediment. Read more.
  • Latest COVID-19 Coverage: Like sand through the hourglass. Read more