Australia's EcoGraf drops most in 1-1/2 years on discounted placement

Ecograf

07/10/2026 01:46

** Shares of Australia's EcoGraf EGR.AX fall as much as 25.9% to A$0.225, their biggest intraday pct drop since March 27, 2025
** Stock hits its lowest level since August 12
** The battery anode materials business receives firm commitments to raise A$1.175 million ($820,150) through share placement
** Offer price of A$$0.222 apiece represents more than 23% discount, as of company's last close on October 2, before it went on a trading halt for the placement announcement
** Says proceeds to be used to finalise the debt financing process for the Epanko Project, a graphite project in Tanzania, including others
** YTD, stock down more than 39%

($1 = 1.4327 Australian dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))