Ella, Jay and Suki are the directors of Eco Sustain Ltd, a successful unlisted public company that needs to raise $15 million to upgrade its recycling factories and industrial warehouses.

The directors are unsure whether their company needs to be publicly listed on the ASX in order to raise this finance.

REQUIRED

(a)Advise the directors whether their company Eco Sustain Ltd needs to be publicly listed on the ASX in order to raise this finance.

(b)What are the legal requirements of this fundraising exercise under the Corporations Act 2001?