Australia's Legacy Iron Ore falls on discounted placement

Legacy Iron Ore

04/02/2024 23:36

** Shares of Legacy Iron Ore  LCY.AX  fall as much as 5.9%
to A$0.016, set to see their biggest fall since Dec 11 - if
losses hold 
    ** The diversified miner says it has launched an entitlement
offer to raise up to A$21.36 million ($13.87 million)   
    ** Issue price of A$0.015 is at a 11.74% discount to the
last closing price on Jan 31 
    ** Shares hit lowest since Jan 22 
    ** Stock has risen ~5.9% this year as of last close


($1 = 1.5404 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))