Australia's Akora Resources falls on discounted placement

Akora Resources

04/04/2022 05:01

** Shares of Akora Resources  AKO.AX  slide as much as 10.3%
to A$0.350, hitting their lowest since March 23 
    ** AKO set for worst day since Feb. 7 if losses hold 
    ** Mineral explorer says it has raised A$3.5 mln ($2.63
mln)(after costs), via issuing 11.5 mln new ordinary shares at
A$0.32 per share  urn:newsml:reuters.com:*:nFWN2VZ19I
    ** The issue price represents a 17.9% discount as of last
close on Thursday, after which shares went in trading halt
    ** 102,751 shares have changed hands, compared with the
30-day average of 82,797 shares 
   ** Stock up about 66% so far this year, as of last close 
    



($1 = 1.3316 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))