Talga Group: Raises $40m in institutional placement

Talga Group Raises $40m in institutional placement

• Talga Group (TLG) raises $40 million through an institutional placement to fund early works at its Vittangi anode project in Sweden
• The raise will also fund scaled-up electric vehicle anode (EVA) production, silicone anode scale-up and provide general working capital
• The company will issue around 25.8 million shares at $1.55 each, to raise the funds — an 11.5 per cent discount to its 20-day volume weighted average price (VWAP) of $1.75
• The company says the placement was strongly supported by leading domestic and global institutions
• Shares in TLG are down 14.7 per cent, trading at $1.60 at 12:50 pm AEDT