Australia's Lithium Energy hits 6-week low on discounted capital raising

LE Minerals

23/06/2023 03:05

** Shares of Lithium Energy Ltd  LEL.AX  slide as much as
6.7% to A$0.84, their lowest since May 11
    ** The miner announces completion of a A$6.4 mln ($4.31
mln)capital raising (before costs) via the issue of 8 mln shares
    ** Issue price of A$0.80 represents a discount of 12.5% to
co's last closing of A$0.90 on June 20 
    ** LEL's shares were halted on June 21, pending announcement
on share capital raising 
    ** More than 3.4 mln shares change hands, 5 times the 30-day
average volume 
    ** Stock down 16.9% this year, as of last close



($1 = 1.4848 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))