BUZZ-Australia's Magnetite Mines falls on discounted capital raise
Reuters
Mar 03
BUZZ-Australia's <a href="https://laohu8.com/S/MGTN.AU">Magnetite Mines</a> falls on discounted capital raise
** Shares of Australia's Magnetite MinesMGT.AX fall 18% to A$0.041, set for their worst day since September 5
** Iron ore producer announces a capital raising of up to approximately A$3.92 million ($2.79 million) at an issue price of A$0.04 per share, which represents a 20% discount to last close
** Raise via a 1-for-2 renounceable rights issue wherein every new share subscribed will entitle the holder to one attaching option, with an exercise price of A$0.08 with a term of 2.5 years
** Stock down 22.2% YTD
($1 = 1.4061 Australian dollars)
(Reporting by Shruti Aagrwal in Bengaluru)
((Shruti.Agarwal@thomsonreuters.com))
At the request of the copyright holder, you need to log in to view this content
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.