Australia's Hawsons Iron faces worst day in nearly six weeks on discounted placement

Hawsons Iron

28/11/2022 24:21

** Shares of Hawsons Iron Ltd  HIO.AX  fall as much as 16.7%
to A$0.1 - set to mark worst session since Oct. 18, if losses
hold
    ** Iron ore producer says completed institutional placement
of 62.5 mln news shares to raise A$5 mln ($3.36 mln)
    ** Issue price of A$0.08 per share represents a 33.2%
discount to stock's last close of A$0.12 on Nov. 25
    ** Stock hits its lowest level since Nov. 18
    ** Stock had fallen 20% this year, as of last close
($1 = 1.4903 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))