Australia's Centrex Metals slides on discounted placement

Centrex

28/10/2021 05:53

** Shares of Centrex Metals Ltd  CXM.AX  fall as much as
10.5% to A$0.094, their lowest since Oct. 21
    ** Co to raise A$4 mln ($3 mln) to advance its flagship
Ardmore Rock phosphate project in Queensland  urn:newsml:reuters.com:*:nASX7zTWkm
    ** Co to issue 44.4 mln new shares under placement, making
up 30.5% of its free float
    ** New shares priced at A$0.09 per share, a discount of
14.3% to co's last close on Oct. 25, after which co went on
trading halt 
    ** About 3.3 mln shares change hands vs. the 30-day avg
volume of 2.9 mln
    ** Stock has more than tripled in value this year, as of
last close

($1 = 1.3323 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))