Business
Lynas defends equity raising to fund expansion – Sydney Morning Herald
Chief executive Amanda Lacaze said the rare earth group’s soaring share price is a vindication of its decision to fund its ambitious growth plans.
The news sent Lynas shares to its highest levels since 2013 with the stock topping $3.85, they closed the session 1.1 per cent higher at $3.69. However, Ms Lacaze had to field a number of questions at the AGM about Lynas raising $425 million at $2.30 a share in August to fund its new processing facilities in Kalgoorlie and US expansion, rather than using debt.
“We felt that equity funding was the right path,” she said.
“You don’t want us to be in that sort of debt mess again, I got to tell you….
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