Nickel Mines (ASX:NIC) announces $231 million equity raise

Company News

by Rachael Jones

Nickel Mines (ASX:NIC) is seeking to raise $231 million from investors to increase its 60 per cent ownership interests in the Hengjaya Nickel RKEF Project and the Ranger Nickel RKEF Project to 80 per cent.

They are undertaking a fully underwritten 1 for 3.6 entitlement offer an accelerated institutional entitlement offer); and a retail entitlement offer.

The Entitlement Offer will be conducted at $0.50 per New Share representing an 11.5 per cent discount to the last traded price.

Shares in Nickel Mines (ASX:NIC) trading halt - Last traded at $0.57.