Chemeq in refinancing proposal

ROCKINGHAM-BASED animal pharmaceutical products manufacturer Chemeq Ltd has announced a $75 million refinancing proposal from a little-known St Georges Terrace banker International Finance Corporation of Australasia Pty Ltd. The deal comes despite current legal action, which threatens to send the company under. IFCA, which is chaired by David Petersen, will subscribe for around 310 million shares at 19.35 cents each to raise $60 million under the first stage of the deal.

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