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- Land and water assets developer Alterra (1AG) has begun planning a capital raise after placing its securities in a trading halt
- The agriculture stock hasn’t disclosed how much it’s planning to raise or what the extra funds will be used to support
- 1AG investors should find out more details once the company comes out of a trading halt, which is due to occur on or before May 13
- Alterra recently updated shareholders on its 300-hectare avocado project, which is located in WA’s South West region
- The business said field preparations, drainage works and irrigation designs are all continuing, while construction is underway on the 4100-megalitre dam
- Before today’s trading halt, shares in Alterra were trading for 4.3 cents on May 10
Land and water assets developer Alterra (1AG) has begun planning a capital raise, after placing its securities in a trading halt.
The agriculture stock placed its shares in a halt before market opened on Tuesday, as it prepares to fundraise.
At this stage, it hasn’t disclosed how much it’s planning to raise or what the extra funds will be used for.
However, 1AG investors should find out more details once the company comes out of a trading halt, which is due to occur on or before May 13.
More recently, Alterra provided an update for shareholders on its 300-hectare avocado project, which is located in WA’s South West region.
It explained field preparations, drainage works and irrigation designs are all continuing at the Carpenters Avocado Projects.
Additionally, construction is also underway on the 4100-megalitre dam needed for the Carpenter’s project.
Alterra already helped planted five hectares of fruit back in October 2020 and is using the data to drive decisions in the current project.
Meanwhile, before today’s trading halt came into effect, shares in 1AG were trading at 4.3 cents per share on Monday, May 10.
