Hot Chili eyes worst day in over 4 yrs on discounted placement, share purchase plan

Hot Chili

06/05/2024 01:59

** Shares of Australia's Hot Chili  HCH.AX  fall as much as
18.4% to A$1.02, their biggest intraday fall since March 2020
    ** Stock at its lowest level since March 15
    ** The copper explorer announces A$24.9 mln ($16.47 mln)
private placement at issue price of A$1.00 per share
    ** Adds share purchase plan (SPP) to raise A$5 mln at issue
price same as placement
    ** Placement, SPP's issue price at a discount of 20% to
stock's last closing  
    ** Near 343,913 shares change hands 0051 GMT, vs 30-day
average volume of 159,557 shares
    ** Stock up 15.7% YTD as of last close

($1 = 1.5122 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))