Australia's Nexus Minerals hits over 3-yr low on discounted capital raise

Nexus Minerals

04/09/2023 02:22

** Shares of Nexus Minerals Ltd  NXM.AX  fall as much as
25.4% to A$0.050, their lowest level since June 26, 2020
    ** The resource co undertakes 1 for 5 renounceable
entitlement issue to raise A$3.25 mln ($2.10 mln)
    ** Issue price of 5 Australian cents per shares is at 25.4%
discount to stock's last close 
    ** Co posts biggest intraday fall since April 26 
    ** Nexus shares down 66.5% YTD, as of last close 
   

     ($1 = 1.5475 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))