STEFANUTTI RAISES R120M IN PROJECT FUNDING

STEFANUTTI RAISES R120M IN PROJECT FUNDING

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. https://www.engineeringnews.co.za/article/stefanutti-raises-r120m-in-project-funding-2019-07-26