Renewable energy technology business Synertec is expected to resume trading on the ASX on Wednesday morning, after stitching up an equity raising.

Synertec had Shaw and Partners and Taylor Collison chase down $8 million to help with commercial rollout, engineering and technology arms, and for general working capital.

The offer was structured as a placement and was priced at 22¢ a share, which was a 12 per cent discount to the last close.

Synertec’s existing backers include Perennial Value Management, Regal Funds Management and SG Hiscock. The business is a technology design and development growth company and has contacts with the likes of APA Group, Santos, Woodside, John Holland, Melbourne Water, CSL and CSIRO.

Article Source: AFR, 2 May 2023