Arafura Pearls plans $6m raising

Subiaco-based Arafura Pearls plans to raise over $6 million through a non-renounceable rights issue, with funds to go towards the company's "watershed" harvest next year.

Under the issue, the company will issue up to 130.97 million shares at an price of five cents each, on the basis of one share for every one share held, raising some $6.5 million.

The closing date for the offer is January 23 2009.