Australia's Elmore Ltd eyes worst day in nearly a year on share placement

Elmore

28/04/2022 05:21

** Minerals processing company's shares  ELE.AX  fall as
much as 23% to A$0.037; set for worst trading session since May
2021, if losses hold
    ** Elmore says it raised A$2.5 mln ($1.77 mln) through issue
of 62.5 mln shares  urn:newsml:reuters.com:*:nFWN2WP2EE
    ** The issue price of A$0.04 represents a discount of 16.7%
of the stock's closing price on Wednesday, after which shares
went on a trading halt
    ** Stock up 10.8% this year, as of last close
    
 ($1 = 1.4096 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))