Tiger Brokers

BUZZ-Australia's Talga slides on discounted placement

Reuters
May 21, 2025
BUZZ-Australia's Talga slides on discounted placement

** Shares of Talga Group TLG.AX fall 11.7% to A$0.415, set for their weakest trading session since late July 2024, if trends sustain

** The specialty miner receives binding commitments to raise A$10 million ($6.45 million) via a placement

** The placement issue price at A$0.4 per share, a 14.9% discount to stock's last close

** Says funds to be used for advancing co's Vittangi anode project in Sweden, scaling up supply of its battery product Talnode-C among others

** More than 594,000 shares change hands vs 30-day avg volume of around 355,000 shares

** Stock down 5.7% YTD, including current session's moves

($1 = 1.5513 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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