High-purity alumina specialist Alpha HPA (ASX:A4N) has launched a major $225 million institutional placement to accelerate the construction of its Stage 2 "HPA First" Project.
The capital raise is highlighted by a landmark $75 million cornerstone commitment from the National Reconstruction Fund Corporation, marking a federal endorsement of Australia’s critical minerals processing capabilities.
The placement, priced at $0.75 per share—an 11.2% discount to the last closing price—also received strong backing from existing major shareholders AustralianSuper and Orica.
The funds are primarily earmarked for the Gladstone facility, which aims to become the world’s largest single-site manufacturer of high-purity alumina.
HPA is a vital component in the manufacturing of semiconductors, lithium-ion batteries, and LED lighting.