- Eco-friendly bioplastics developer SECOS Group (SES) has received firm commitments to raise $15 million through a placement
- 88.24 million fully paid ordinary shares will be issued to institutional and sophisticated investors at 17 cents each
- Director Don Haller Jr has subscribed for US$100,000, however, this is subject to shareholder approval at the annual general meeting
- SECOS will use the funds for capital expenditure comprising production expansion and plant optimisation, research and development
- The placement was oversubscribed and received strong support from leading institutions as well as existing shareholders and institutional investors
- Company shares have dropped 6.41 per cent to trade for 18.3 cents at 11:39 am AEST
