I"m going to take a guess and say it is for acquisition/expansion into the O&G deal that is rumoured. I also don't think SP3 needs the money, but judging by the trading over the past few weeks there seems some institutional party keen to get a seat
So it may be 2 birds with 1 stone, we get a raise done and this party becomes set - once done, I imagine they would focus their attention on getting the sp moving in an upward direction, and likely give it some kick
Spectur IPO by Alto Capital, page-436
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