Metro Performance Glass has announced agreements for a capital raise and a new loan facility.

The company said it has completed binding conditional agreements with a new cornerstone investor, executive director Simon Bennett, and other wholesale investors, ensuring a minimum $15 million equity capital raise.

This will be done through a renounceable rights issue to existing shareholders and a placement to the new cornerstone investor.

Metro has also reached a binding conditional agreement with one of its banking syndicate members for a new three-year loan facility, with the same pricing as its current facility.

The equity capital raising will involve a $9m rights issue and a placement of at least $6m to Amari Metals Australia, which will acquire a 51% stake in Metro.

The total amount raised is expected to be between $15m and $24m.

Completion of the transactions is subject to shareholder approval, which is anticipated to be sought in late August 2025.

Metro has appointed Grant Samuel as an independent advisor for the assessment of the transactions.

Amari is a privately-owned company operating in the metals distribution industry in Australia and New Zealand.

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