Australia's Astral loses most in 2-1/2 years on discounted offer

Astral Resources NL

26/09/2022 03:34

** Shares of Astral Resources NL  AAR.AX  fall as much as
15.6% to A$0.076, biggest intraday pct loss since March 19, 2020
    ** The gold and base metal miner launched a renounceable
entitlement offer to raise about A$3.9 mln ($2.54 mln)
 urn:newsml:reuters.com:*:nFWN30V0BD
    ** Co to offer one new share for every 10 shares held at an
issue price of A$0.065 apiece, a 27.8% discount to last closing
price on Sept 23
    ** Shares touch their lowest since Aug 23
    ** About 1.6 mln shares exchange hands, compared with the
30-day average of 230,176 shares 
    ** Astral stock down 18.2% this year, as of last close 
     ($1 = 1.5363 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))