Australia's Lucapa Diamond dips after discounted placement

Lucapa Diamond Co

08/03/2022 04:43

** Shares of Lucapa Diamond Co Ltd  LOM.AX  slide as much as
3.8% to A$0.077 after co announces institutional placement at
discounted price 
    ** Says it received firm commitments to raise A$12.5 million
($9.14 million) from investors at A$0.075 per share  urn:newsml:reuters.com:*:nASX3H5D5d
    ** Placement price is 6.3% discount to LOM's last closing
price of A$0.08 
    ** Placement proceeds to be used for exploration in projects
in Angola and Australia 
    ** Stock down 11.1% YTD, as of last close 
    
($1 = 1.3671 Australian dollars)

 (Reporting by Harshita Swaminathan in Bengaluru)
 ((Harshita.Swaminathan@thomsonreuters.com))