Australia's Akora Resources falls on discounted capital raise

Akora Resources

05/08/2025 04:12

** Shares of Akora Resources AKO.AX fall 9.1% to A$0.1, set for their weakest trading session since July 22, if current trend holds

** The metal explorer receives firm commitments to raise A$2.91 million ($1.88 million) via a placement and entitlement offer

** Offer price for both placement and entitlement offer at A$0.085, a 22.7% discount to stock's last close

** Says funds will be used for advancement of co's Bekisopa iron ore project in Madagascar among others

** Stock down 4.8% YTD, including the day's moves

($1 = 1.5482 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

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