Last Friday, Kalrez was forced to file a supplementary prospectus after ASIC placed a stop order because of its concern that Kalrez's prospectus lacked disclosure about its financial position and prospects if the raising were not fully subscribed.
On 3 May, Kalrez unveiled a plan to raise $5.1 million for working capital as well as make a $2.3 million contribution to its Seram joint venture operation in Indonesia.
ASIC said there was no minimum subscription amount or underwriting. It was also concerned about the use of the pro forma balance sheet showing the effect of the issue on the company, based on December 31 accounts, which assumed full subscriptions.
Kalrez told the exchange that it has now satisfied the ASIC concerns through the supplementary prospectus lodged last Friday.
