Australia's VHM slumps on share sale plans

VHM

25/07/2024 04:59

** Shares of VHM  VHM.AX  slump 25.9% to A$0.43, set for
their worst day ever
    ** Construction materials gets firm commitment for A$1.8 mln
($1.2 mln) share placement at A$0.42 per share
    ** Price at a near 28% discount to last session's close
    ** Co also plans share purchase plan to raise another A$3
mln on same terms as placement
    ** Trading vol more than 2x the 30-day average volume
 
 ($1 = 1.5265 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))