Australia's Stellar Resources falls on discounted share placement

Stellar Resources

17/03/2021 03:29

** Shares of Stellar Resources  SRZ.AX  fall as much as 7.4%
to A$0.025, marking their biggest intraday percentage loss since
March 5 
    ** Tin explorer raises A$3.6 mln ($2.78 mln) at an issue
price of A$0.022 per share, an 18.5% discount to stock's close
on Friday, when it last traded  urn:newsml:reuters.com:*:nASX2gG7QR
    ** Shares being offered under placement represent 33% of
co's free float 
    ** Stock up ~68.8% this year, as of last close 


($1 = 1.2928 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))