Australia's Manhattan sees worst day in 14 years on discounted placement

Manhattan Gold

06/02/2023 02:47

** Shares of Manhattan Corp Ltd  MHC.AX  slide as much as
38.9% to A$0.006, seeing their worst day since Feb 12, 2009
    ** Gold miner says received firm commitments to raise A$4.6
mln ($3.18 mln) in a placement
    ** Issue price of A$0.005 per share represents an 80%
discount to stock's last closing price of A$0.009 on Feb 1
    ** Stock posts its biggest intraday pct fall since Jan 11
    ** More than 19.6 mln shares change hands, 11 times the
30-day average volume 
    ** Stock up 63.6% this year, as of last close
($1 = 1.4451 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))