Australia's Carpentaria falls most in six weeks on share placement

Hawsons Iron

06/07/2021 05:37

** Iron ore explorer Carpentaria Resources  CAP.AX  slumps
as much as 23.3% to A$0.165, its worst intraday pct drop since
May 26
    ** Says https://bit.ly/36d0E5O raised A$35.6 mln ($26.92
mln) via issue of 54.3 mln shares at issue price of A$0.15 per
share
    ** Issue price represents a 30% discount to CAP's close of
A$0.215 on July 1
    ** Issued shares represent 13.2% of CAP's free float of
411.5 mln shares, according to Refinitiv Eikon
    ** Also announces a 1-for-2.6 underwritten entitlement offer
of 183 mln shares to raise about A$27.5 mln
    ** About 11.9 mln shares change hands, vs the 30-day average
of 11 mln shares
    ** CAP has risen fivefold this year, as of last close on
Thursday


($1 = 1.3222 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))