Australian Strategic Materials hits 2-week low on discounted placement

Australian Strategic Materials

28/07/2025 03:25

** Shares of Australian Strategic Materials ASM.AX fall 17.4% to A$0.595, their lowest since July 14

** Stock on track for worst day since April 17, 2024, if trends hold

** The critical metals producer says it will raise A$13 million ($8.54 million) at an issue price of  A$0.5647 per share

** Issue price represents a discount of 21.6% on stock's last close

** About 2.5 million shares change hands, 5.3x the 30-day average of 458,815

** Stock up 12.3% YTD, including moves in current session

($1 = 1.5221 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))