ONLY one third of new shares offered by troubled rare earths miner Lynas in an effort to raise $71 million have been taken up by its shareholders.
The 66.5 per cent of shares not bought by shareholders will instead be taken by several institutional sub-underwriters of the capital raising, Lynas(LYC) said.
The company made a $366 million loss in 2013/14 and recently renegotiated a $US255 million loan to push large repayments back to 2016.
Lynas mines rare earths, which are used in a range of hi-tech products, in Western Australia, and operates a refinery in Malaysia.
It has been hit by falling prices for its products, and said the new funds will allow it to invest in areas of its business that will improve its performance.....
http://www.theaustralian.com.au/bus...099900866?nk=022f36ad7a20e6e2b7df8e5f483c5a7e
Troubled Lynas completes capital raising
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| Open | High | Low | Value | Volume |
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| Last trade - 14.10pm 10/05/2024 (20 minute delay) ? |
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