Australia's Blue Star Helium falls most in over 3 years on discounted placement

Blue Star Helium

16/10/2023 04:04

** Shares of Blue Star Helium  BNL.AX  fall as much as 25.9%
to A$0.020 - set for worst day since July 28, 2020, if losses
hold
    ** Co says received firm commitments to raise A$7 million
($4.43 million) via an institutional placement of 333.3 mln
shares at A$0.021 - a 22.2% discount to stock's last close
    ** Equity raise to support development of Voyager helium
production plant set to be completed by Q4  - co
    ** Stock hit lowest level since Sept. 7
    ** More than 16 mln shares change hands, versus 30-day
average volume of 1.3 mln
    ** BNL down ~53% YTD, as of last close


($1 = 1.5815 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))