Australia's Nickel Industries slips on selling equity stake to United Tractors

Nickel Industries

22/09/2023 02:36

** Shares of Nickel Industries  NIC.AX  fall as much as 3.5%
to A$0.753 - their lowest level since Aug 31
    ** Stock last down 2.9%, sees worst day since Sept 6 if
losses hold
    ** Specialty miner completes placement of 19.99% of co's
ordinary shares to United Tractor's  UNTR.JK  unit PT Danusa
Tambang Nusantara
    ** Co says placement follows issuance of 857 mln shares and
the receipt of the subscription amount of A$942.7 mln($604.74
mln)
    ** Stock has fallen 19.6% this year as of last close

($1 = 1.5588 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))