Australia's Flynn Gold faces worst day in more than 18 months on discounted placement

Flynn Gold

15/12/2022 02:29

** Shares of Australia's Flynn Gold Ltd  FG1.AX  fall as
much as 24.1% to A$0.11 - set for worst day since June 2021, if
losses hold 
    ** Mineral explorer says it will raise up to A$6.1 mln
($4.17 mln) via an institutional placement and entitlement offer
    ** Says placement and entitlement offer will be undertaken
at an issue price of A$0.10 per share, a discount of 31% to
stock's last close 
    ** Stock hits its lowest since Dec 6
    ** Stock had fallen 14.7% this year, as of last close
($1 = 1.4616 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))