Australia's Bowen Coking falls on discounted capital raise

Bowen Coking Coal

07/10/2024 01:42

** Shares of Bowen Coking  BCB.AX  fall as much as 16.7% to
A$0.010, set to worst day since Sept 10, if current trends hold
    ** The coking coal firm says it will raise about A$70 mln
($47.59 mln) through equity raising
    ** Co says issue price of equity raising is A$0.009 per
share
    ** Adds that issue price is at a 25% discount to stock's
last close
    ** Stock hits its lowest level since Sept 12
    ** Stock down 89%, YTD  

    ($1 = 1.4710 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))