Australia's Minbos Resources falls on discounted placement

Minbos Resources

12/07/2022 02:27

** Shares of fertilizer and nutrient co Minbos Resources
 MNB.AX  fall as much as 7.4% to A40.125, mark their biggest
intraday pct fall since June 17
    ** Co raises A$25 mln ($16.80 mln) via placement to fund its
 the Cabinda Phosphate Project in Africa  urn:newsml:reuters.com:*:nASX8VRpG8
    ** Issue price of A$0.11 per share represents 18.5% discount
to stock's last closing price
    ** Shares hit their lowest since June 30
    ** More than 2.1 mln shares trade hands, 1.8 time the 30-day
avg of 1.2 mln shares
    ** As of last close, stock up 12.5% this year

($1 = 1.4885 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))