Tiger Brokers

BUZZ-Australia's Lotus Resources falls most in 2 years on upsized discounted placement

Reuters
Oct 24, 2024

** Shares of Lotus Resources fall as much as 17.5% to A$0.260, posting their biggest intraday percentage drop since Sept. 2, 2022

** Stock hits its lowest level since Oct. 16

** Uranium explorer increases size of its placement, now looks to raise A$130 mln ($86.32 mln) compared with A$110 mln previously announced

** Issue price of A$0.25 per share represents a 20.6% discount to stock's last close

** About 15.8 mln shares change hands, compared with the 30-day average volume of around 9.5 mln

** Stock down 7% YTD, including session's move

($1 = 1.5060 Australian dollars)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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