Australia's Manuka Resources falls on discounted placement

Manuka Resources

12/12/2022 24:28

** Shares of mining and exploration co Manuka Resources Ltd
 MKR.AX  fall as much as 3.9% to A$0.125, their lowest since
Oct. 21
    ** Co raises A$4.1 mln ($2.78 mln) via placement of 39 mln
new shares
    ** Issue price of A$0.105 per share represents a 19.2%
discount to stock's last closing price
    ** New shares represent 8.4% of shares on issue
    ** As of last close, stock down 59.1% this year
($1 = 1.4771 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))