Rubicon to raise $21m from 1-for-3 rights issue

Mon, 04 Jun 2012

June 05 (BusinessDesk) - Forestry science and wood products investor Rubicon said it plans a fully-underwritten one-for-three rights issue to raise $21 million. As well as the rights issue, the company plans to extend its US$20 million bank debt facility through to July 1, 2014. “The directors believe that the funding provided by the entitlement offer, together with the bank facility extension, will be sufficient to meet Rubicon's foreseeable needs out to early 2014, should that amount of time be necessary in order to bring value to our Arbo...

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