Business
Here’s why the Vulcan Energy (ASX:VUL) share price is storming 14% higher
The Vulcan Energy Resources Ltd (ASX: VUL) share price has returned from its trading halt and is pushing higher on Thursday.
In early trade, the clean lithium company’s shares are up 14% to $8.94.
Why is the Vulcan share price storming higher?
Investors have been buying Vulcan shares on Thursday after it announced the receipt of firm commitments for its $120 million placement to sophisticated, professional, and institutional investors. These funds are being raised at $6.50 per new share, which is a 17% discount to its last close price.
According to the release, the placement was strongly supported by international and domestic ESG-focused institutions. One of those was cornerstone investor, Hancock Prospecting.
The release refers…
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