Australia's Pan Asia Metals faces worst day ever on discounted placement

Flagship Minerals

25/10/2023 01:39

** Shares of Pan Asia Metals Ltd  PAM.AX  fall as much as
30% to A$0.140, set for worst day ever if current losses hold
    ** Investment holdings co to raise A$1.5 mln ($953,850.00)
through placement 
    ** Issue price of A$0.15 per share represents a 25% discount
to stock's last close  
    ** Shares hit their lowest level since July 27, 2021
    ** PAM down ~51% YTD, as of last close 
   
($1 = 1.5726 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))