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Stefanutti raises R120m in project funding

26th July 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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Construction and engineering company Stefanutti Stocks on Friday advised that it had received R120-million as specific ring-fenced project funding through the first component of its funding plan.

Other projects are also being evaluated to potentially raise additional ring-fenced project funding as part of the funding plan, the remaining aspects of which were being pursued separately.

The company in May informed shareholders it was experiencing short-term liquidity pressures and was considering raising funding through a combination of ring-fenced project financing, a number of alternative funding solutions and, as a last resort, a fresh issue of shares.

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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