DevEx Resources to Raise Over AU$32 Million via Share Placement
MT Newswires Live
Dec 03, 2025
DevEx Resources (ASX:DEV) received firm commitments to raise AU$32 million via a placement of 220.7 million shares at AU$0.145 apiece, from existing and new institutional and sophisticated investors, according to a Wednesday Australian bourse filing.
The offer price represents a 9.2% discount to the stock's five-day volume-weighted average price, the filing said.
Additionally, the company will offer a share purchase plan (SPP) to existing eligible shareholders to raise a further AU$3 million at the same offer price, the filing added.
The funds will be used to support the company's recent acquisitions of additional tenure, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.