Helix Ltd (ASX: HLX) has announced a capital raising of up to approximately A$13m
Helix Ltd (ASX: HLX) has announced a capital raising of up to approximately A$13m to accelerate its extensive copper exploration activity in the prolific copper-endowed Cobar region of NSW. The capital raising is via a Two Tranche Placement to institutional, professional and sophisticated investors to raise A$11m and a Share Purchase Plan to raise an additional A$2m.
When an ASX-listed company announces a capital raising, it generally means it is selling more shares to raise money.
More often than not, the shares are sold at a discount to the company’s share price at the time to entice new and existing investors.
Following the announcement, shares in Helix Ltd tumbled 13.33% to $0.013/share.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
48% of businesses say they will not raise prices, primarily due to the desire to...read more