Australia's Centrex eyes worst day in over 5 months on discounted placement

Centrex

02/02/2024 01:58

** Shares of Centrex  CXM.AX  fall as much as 15.9% to
A$0.058, set for their worst day since Aug. 28, if losses hold 
    ** Stock hits lowest level since Nov. 3 
    ** Phosphate rock producer and explorer says launched a
share purchase plan to raise A$2 mln ($1.32 mln) at the issue
price of A$0.057 per share
    ** Issue price represents a discount of 17.4% to the last
close
    ** Co receives commitments of A$8 mln from investors through
placement of 140 mln new shares
    ** Adds placement proceeds to fund project expansion, among
others 
    ** About 5.8 mln shares change hands, compared with the
30-day average volume of 702,199
    ** Stock has fallen 4.2% this year, as of last close


($1 = 1.5186 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))