Southern Cross Electrical Engineering will raise $32 million through a share placement to provide working capital as the company’s order book continues to expand.

The Western Australia-based company will issue 44.25 million shares at 75 cents per share, a 6.5 per cent discount, with Euroz Securities acting as the sole lead manager.

The funds from the raising are expected to provide general working capital with the company maintaining a substantial pipeline of work.

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