Tiger Brokers

BUZZ-Australia's Astron Corp slumps on discounted placement

Reuters
Oct 17, 2024

** Shares of Astron Corp fall 8% to A$0.69, set for their worst session since June 7

** Stock hits lowest since Aug. 20

** Critical minerals miner plans to raise A$10 mln ($6.68 mln) via an entitlement offer

** Offer issue price at A$0.66 per share is at a 12% discount to stock's last close on Oct. 14, when trading was halted pending the announcement

** Says funds to be utilised for starting commercial production at Donald project in Victoria

** More than 48,000 shares change hands, 3.3 times the 30-day avg

** Stock down 2.1% YTD

($1 = 1.4961 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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