Coal miner Stanmore Coal has completed the retail entitlement component of a A$694.1-million capital raise initiative, to fund the acquisition of an 80% interest in the BMC metallurgical coal joint venture (JV) in Queensland from major BHP.
Stanmore on Thursday announced that it had raised some A$38-million under the retail component of its seven-for-three entitlement offer, which had been priced at A$1.10 a share.
