Pacific Lime and Cement secures $50M in equity
Key points
- Pacific Lime secured $50 million through an equity placement to institutional and professional investors.
- The company's shares held steady at $0.38 following the capital raising announcement.
- Funds will accelerate industrial expansion in Papua New Guinea alongside a proposed US$15 million United States loan facility.
Pacific Lime and Cement (ASX:PLA) has secured firm investor commitments for an $50 million share placement to accelerate its industrial manufacturing hub.
The transaction follows a previous trading halt and represents a major capital injection compared to earlier project stages.
The company also executed a non-binding term sheet with the United States International Development Finance Corporation for a proposed US$15 million senior unsecured convertible note.
Pacific Lime stated that the debt financing requirement for any future project-level facilities could reach up to US$400 million.
Following the announcement, the Pacific Lime and Cement share price was unchanged at $0.38.
Proceeds will fund pre-construction works at the Central Cement Project ahead of a final investment decision scheduled for early 2027.
The broader development master plan encompasses an expanded nine-berth international port, a regional fuel reserve, and a 2,330-lot land subdivision.
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