Tarnow ATTP is seeking to raise around $238 million from a rights issue, Reuters reports. The Polish chemical maker seeks to issue around 29.34 million new shares to fund acquisitions.

The company seeks to use the proceeds from the issue to buy an additional 40% stake form the state in rival Kedzierzyn. Tarnow ATTP already owns around a 52% stake in Kedzierzyn.

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