Australia's Lowell Resources Fund sheds most in 4 yrs on discounted placement

Lowell Resources Fund

18/10/2024 04:24

** Shares of Lowell Resources Fund  LRT.AX  fall as much as
12.4% to A$1.135
    ** Stock posts largest intraday pct drop since mid-June 2020
    ** The investment manager to raise A$5.7 mln ($3.8 mln) via
share placement at A$1.1/share
    ** Price a 15.1% discount to stock's close on Oct. 15, when
trading was halted pending the announcement
    ** Lowell down ~19.2% YTD, including current session's moves

($1 = 1.4905 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))