CMA finishes Southern Rocycling acquisition

Scrap metal group CMA Corporation Ltd has completed its $40 million acquisition of Victoria-based Southern Rocycling, after winning shareholer approval and raising $37 million in an entitlement issue. The issue, which shareholders to subscribe for CMA shares on a three-for-four basis at a price of 32 cents per share, was fully underwritten by BBY Ltd and Pitt Capital Partners Ltd.

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