Base Resources raises $89 million

Company News

by Kathy Skantzos

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Last Updated: 27/02/2020 3:03 PM

Base Resources (ASX:BSE) has raised $89 million in an institutional entitlement offer and placement, more than expected by the minerals company.

The fully paid shares were priced at 25.5 cents a share, with about 350 million new shares to be issued.

The new shares will commence trading on the ASX today.

The retail component of the entitlement offer opened on Thursday 28 December 2017, which is expected to end on Wednesday 10 January 2018.

Total funds expected to be raised is about $100 million.

Shares in Base Resources (ASX:BSE) last traded flat at $0.27.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.