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Euroz tapped for Energy Resources raising

Financial Review

Energy Resources of Australia has appointed WA broker Euroz Securities for its $476 million capital raising backed by Rio Tinto.

Flagstaff Partners and BurnVoir Corporate Finance were appointed financial advisers and Ashurst for legal advice on the recapitalisation.

The fully underwritten 6.13 for one pro rata renounceable entitlement offer was priced at 15¢ a share. This represented a 38 per cent discount to the 10-day volume weight average price.