Australia's VBX hits over one-month low on discounted placement

VBX

23/09/2026 05:07

** Shares of VBX VBX.AX fall as much as 20% to A$0.640, their lowest since August 17
** Stock set for its worst session since March 23, if current losses hold
** Bauxite producer to raise A$7 million ($4.97 million), comprising A$4.5 million via placement and A$2.5 million in conversion of unsecured loan notes
** Placement at an issue price of A$0.64 per share, a 20% discount to stock's last close on September 18, according to Reuters' calculations
** Co says funds will be used to maintain momentum at its Wuudagu bauxite project in Western Australia
** YTD, stock up 35%, including the session's moves

($1 = 1.4085 Australian dollars)

 (Reporting by Tejas Harish in Bengaluru)
 ((tejas.harish@thomsonreuters.com;))