KGL Resources falls most in over 2 months on discounted entitlement offer

KGL Resources

08/07/2024 04:36

** Shares of Australia's KGL Resources  KGL.AX  fall as much
as 8.7% to A$0.105, marking its biggest intraday pct fall since
April 17
    ** Mineral explorer says entitlement offer to raise up to
approximately A$15.1 mln ($10.20 mln)
    ** Entitlement offer at an issue price of A$0.10 per share,
representing a discount of 13% to stock's last closing
    ** Issue of 151.3 mln shares represent 0.6% of co's free
float of 244.2 mln shares - LSEG data
    ** Around 278,714 shares change hands as of 0330 GMT vs
30-day average volume of 149,889 shares
    ** Stock down 25.8% YTD, as of last close

($1 = 1.4804 Australian dollars)

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