Australia's NICO Resources falls on discounted placement

NICO Resources

19/09/2023 04:15

** Shares of NICO Resources  NC1.AX  fall as much as 6.5% to
A$0.43, their lowest level since Sept .6
    ** Nickel projects focused co says offering fully
underwritten 1 for 5 pro rata non-renounceable entitlement offer
to raise A$7.3 million ($4.70 million)
    ** Offer price of A$0.40 per new share represents a 13%
discount to co's last closing share price
    ** Stock down 25.2% YTD, as of last close


($1 = 1.5547 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))