Australia's Sky Metals loses most in 1-1/2 months on discounted placement

Sky Metals

13/03/2024 23:53

** Shares of Australia's Sky Metals  SKY.AX  fall as much as
7.1% to A$0.039, their biggest intraday pct drop since Feb 1
    ** Stock at its lowest level since March 5
    ** The mineral explorer receives firm bids to raise A$4.2
mln ($2.78 mln) at issue price of A$0.033 per share 
    ** Issue price represents a discount of 21.4% to stock's
last closing 
    ** Issue of 127 mln shares represent ~0.3% of co's free
float of 461.4 mln shares - LSEG data
    ** Around 138,204 shares change hands, vs 30-day average
volume of 442,699 shares
    ** Stock down 16.7% YTD, as of last close


     ($1 = 1.5090 Australian dollars)

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