Alterra Limited (AU:1AG) has released an update.
Alterra Limited has formally requested to delist from the Australian Securities Exchange due to fundraising difficulties, lack of liquidity, and the disproportionate impact on share price from minimal trading volumes. The company has struggled to raise capital for its primary Avocado Orchard project and is considering selling its 15% stake in Carbon Conscious Investments Limited to Sandon Capital Investments Limited. The Board believes that delisting could redirect funds from listing costs towards project development, although it would remove the ability for shareholders to trade shares on the ASX.
For further insights into AU:1AG stock, check out TipRanks’ Stock Analysis page.
