Aveng eyes turnaround and rights issue after Covid-19 pressure
Group is upbeat that the diversification of its services and operating regions will pay off, and is aiming to tap shareholders once again
30 November 2020 - 08:50
Infrastructure and mining group Aveng is aiming to tap shareholders for an amount approaching its market capitalisation, saying it is still confident the diversification of its services and operating regions will pay off, even after the Covid-19 pandemic caused a liquidity crunch.
The group is currently engaging with shareholders over a balance sheet restructure that offers to be a “watershed” moment for the group, offering the prospect of halving debt, and putting Aveng in a position to consider additional growth opportunities, CEO Sean Flanagan said on Monday...
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