Australia's WA Kaolin jumps most in over 2 yrs on receiving equity investment

WA Kaolin

03/08/2023 02:36

** Shares of Australia's WA Kaolin  WAK.AX  rise as much as
14.8% to A$0.155, their biggest intra-day pct gain since May 31,
2021 
    ** Stock hits highest since July 6 
    ** The kaolin producer says co and Stanco International
execute A$7.7 million ($5.03 million) equity investment 
    ** Says Stanco will subscribe for 45.5 mln fully paid
ordinary shares of WA Kaolin at an issue price of A$0.17 per
share
    ** Offer price is a 25.9% premium to the last close of co   
 
    ** Stock has fallen 10% this year as of last close


($1 = 1.5295 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))