Australia's Minbos Resources hits over five-year low on discounted placement

Minbos Resources

05/12/2025 24:10

** Shares of Minbos Resources MNB.AX fall 21.9% to A$0.025, lowest since November 9, 2020

** Agricultural chemicals maker says it will raise A$3.36 million ($2.22 million) as part of a placement

** Issue price of A$0.026 per share is at a nearly 19% discount to the stock's last closing price

** Stock posts its biggest intraday pct fall since October 2, 2024

** Almost 1.6 million shares change hands, compared with the 30-day average volume of 1 million

** MNB down 55.9% YTD, including session's moves

($1 = 1.5138 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)

 ((Adwitiya.Srivastava@thomsonreuters.com))