Australia's Galileo Mining falls on discounted share placement

Galileo Mining

08/09/2021 03:54

** Shares of nickel-copper miner Galileo Mining Ltd  GAL.AX 
fall as much as 9.1% to A$0.300, marking their biggest intraday
percentage fall since Aug 20 
    ** Co raises A$6.5 mln ($4.80 mln) at an issue price of
A$0.26 per share, a 21.2% discount to its Friday close, after
which the stock went into a trading halt   urn:newsml:reuters.com:*:nASX3q54h3
    ** Shares being offered under placement represent 31.4% of
co's free float shares 
    ** Stock hits lowest since Sept 1 
    ** Stock up 46.7% this year, as of last close 

    ($1 = 1.3528 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))