Business
Solid first day on the ASX for rare earths play Australian Strategic Materials – Stockhead
Rare earths newcomer Australian Strategic Materials (ASX:ASM) has had a rousing welcome on its first day of listed life following its demerger from Alkane Resources (ASX:ALK). Shares in the company closed up 12 per cent to $1.40 from its opening price of $1.2…
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Rare earths newcomer Australian Strategic Materials (ASX:ASM) has had a rousing welcome on its first day of listed life following its demerger from Alkane Resources (ASX:ALK).
Shares in the company closed up 12 per cent to $1.40 from its opening price of $1.25 per share, giving Alkane shareholders who were issued one ASM share for every five Alkane shares they held a substantial bonus.
While the company did not raise any funds for its listing, it starts life with $20m …
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