Australia's Neometals Ltd drops most in nearly a year on discounted placement

Neometals

11/10/2024 01:25

** Shares of Australia's Neometals Ltd  NMT.AX  fall as much
as 21.7% to A$0.094, its biggest intraday pct fall since
late-Oct 2023
    ** Stock at its lowest level since Sept 25
    ** The battery materials producer gets commitments to raise
A$4 mln ($2.70 mln) via placement at an issue price of A$0.09
per share
    ** Issue price at a discount of 25% to stock's last closing
    ** Stock has fallen 52.4% YTD, as of 0019 GMT

($1 = 1.4835 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))