MACA completes capital raise for Downer buy

Mining services provider MACA has raised A$15.5-million following the completion of the retail component of its 1-for-8 renounceable entitlement offer.

MACA in December announced plans to raise A$75-million through a fully underwritten institutional placement and an accelerated pro rata non-renounceable entitlement offer, to partly fund the A$175-million buy of fellow listed Downer EDI’s Mining West business unit.