Debt Reduction and Expansion: What Risks Lurk in Range International’s Capital Raise?
Range International has completed the first tranche of a capital raise, securing A$1.58 million to support growth in Indonesia and the Philippines while reducing debt.
- Raised A$1.58 million via 140 million shares at A$0.002 each
- Second tranche of 648.8 million shares pending shareholder approval
- Funds allocated to Indonesian pallet rental growth and Philippine expansion
- Debt repayment planned while retaining access to existing credit facility
- Focus on zero-waste recycled plastic pallets under Re>Pal™ brand
Capital Raise Completed
Range International Limited (ASX – RAN), a manufacturer of zero-waste recycled plastic pallets, has successfully completed the first tranche of its two-part placement, raising approximately A$1.58 million. The company issued 140 million fully paid ordinary shares at a modest price of A$0.002 per share, marking a significant step in its strategy to fund expansion and strengthen its balance sheet.
Growth Ambitions in Asia
The funds raised will be strategically deployed to accelerate Range International’s growth initiatives. A substantial portion is earmarked for expanding the company’s rental pallet operations in Indonesia, where it already operates production lines in East Java. Additionally, the company plans to establish a presence in the Philippines, relocating equipment and setting up new production capacity to broaden its footprint in the Asia Pacific region.
Debt Reduction and Financial Flexibility
Alongside growth investments, Range International intends to use part of the proceeds to repay existing debt facilities, which will reduce interest expenses and improve financial health. Notably, the company will maintain full access to its A$575,000 debt facility until December 2026, preserving flexibility for future capital needs.
Pending Shareholder Approval for Tranche Two
The second tranche of the placement, involving the issue of 648.8 million shares, awaits shareholder approval at a meeting scheduled for early November 2025. This tranche will further bolster the company’s capital base, enabling continued investment in production and market expansion.
Sustainability at the Core
Range International’s Re>Pal™ pallets leverage ThermoFusion™ technology to produce 100% upcycled plastic pallets with zero waste, aligning with growing environmental and sustainability trends in manufacturing and logistics. This green positioning may enhance the company’s appeal in markets increasingly focused on sustainable supply chains.
Bottom Line?
With capital raised and expansion plans underway, Range International’s next challenge will be converting growth ambitions into tangible market gains.
Questions in the middle?
- Will shareholders approve the second tranche in November?
- How quickly can Range scale production in the Philippines?
- What impact will debt repayment have on the company’s profitability?
