Redivium (ASX:RIL) shares continue to be suspended from trading on the Australian Securities Exchange (ASX) as the company's financial condition is not adequate, the company said in a Monday filing with the Australian bourse.
The ASX has determined that the company has less than two-quarters of the estimated funding available after looking at its fiscal 2024 cash flow report, the filing added.
This has resulted in the company's shares offer announced on the same day earlier being canceled without meeting the minimum subscription condition, per the filing.
The company will list 25 million euros worth of green debenture bonds by its unit Redivium Europe to fund its European battery projects, the company said in a separate Monday filing with the Australian bourse.
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