Meteoric Resources, one of at least 13 small Australian miners trying their luck in Brazilian rare earths, was in front of fund managers after-market on Monday, looking for about $35 million of fresh funds via an institutional placement.
The shares were offered at 14¢ apiece, a 9.7 per cent discount to the last traded price of 15.5¢ on Friday and a 7.5 per cent discount to the five-day volume-weighted average price, according to terms sent to listed equities investors.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
