Australia's Sayona Mining falls on discounted placement

Elevra Lithium

30/05/2023 02:29

** Shares of lithium producer Sayona Mining  SYA.AX  slide
as much as 14.3% to A$0.180 - their lowest since Dec. 29
    ** SYA among the top losers on the ASX 200 benchmark index
 .AXJO 
    ** Co resumes trading after completing bookbuild for its
A$200 mln ($135.66 mln) placement for the speed development of
its Québec lithium resources
    ** Placement at an issue price of A$0.18 per share, a 14.3%
discount to its last closing on May 25
    ** Trading volumes 2.4 times the 30-day average of 35.4 mln
shares
    ** As of last close, stock up 10.5% this year


($1 = 1.4743 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))