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Altas over subscribed
21st July 2009, 9:45 WST

Atlas Iron’s recent $11.7 million share placement was oversubscribed after the miner received over $29.75 million share purchase subscriptions.

The Pilbara miner will increase the size of its share purchase plan by 27.7 per cent to $14.8 million, which means an additional 2.3 million ordinary shares will be issued.

It will scale back each share subscription by 50 per cent.

Altas’ shares fell 4¢ or 2 per cent to $1.76 at 9.33 WST.