Australia's Sarytogan Graphite rises on premium placement

Sarytogan Graphite

09/08/2024 03:29

** Shares of Sarytogan Graphite  SGA.AX  rise as much as
17.2% to A$0.170, their biggest intraday percentage gain since
March 11
    ** Stock hits its highest level since July 29
    ** The graphite explorer says it will raise A$5 mln ($3.30
mln) from the European Bank for Reconstruction and Development
via placement at A$0.16 per share
    ** Issue price represents a 10.3% premium to stock's last
close
    ** About 409,000 shares change hands, compared with the
30-day average volume of around 123,000
    ** Stock down 15% YTD, including session's move

   ($1 = 1.5161 Australian dollars)
    

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))