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Mission raises $50m for expansion

SHARES in Perth-based biodiesel producer Mission Biofuels Ltd jumped more than 12 per cent on Monday following news of a $50 million capital raising to fund its Indian and Malaysia expansion plans. Mission stock closed at $1.44 a share, well above the fund raising price of $1.30, which was below recent highs but well above levels seen earlier in the year and late last year. Mission has raised the $50 million through a placement to fund a 250,000 tonne per year expansion to its Malaysian biodiesel production facility, and development of its Jatropha Curcas feedstock business in India.

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