Australia's Develop Global falls on discounted placement

Develop Global

25/06/2025 02:56

** Shares of Develop Global DVP.AX fall 4.2% to A$4.590, their lowest levels since June 17

** Stock on track for worst day since April 9, if current  trend holds

** The mining co says it will raise A$180 million ($117.02 million) at A$4.50 per share

** Issue price represents a discount of 6.1% to stock's last close

** Stock up 95.7% YTD, including moves in current session

($1 = 1.5382 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

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