Business
Cannabis share Althea (ASX:AGH) sinks 11% on capital raising and Aphria selldown
The Althea Group Holdings Ltd (ASX: AGH) share price has come under pressure on Tuesday after returning from its trading halt.
In morning trade the cannabis company’s shares were down as much as 11% to 43.5 cents.
The Althea share price has since recovered the majority of this decline and is now down just 2% to 48 cents at the time of writing.
Why is the Althea share price under pressure?
This morning Althea’s shares returned to trade following the completion of the institutional component of its capital raising.
According to the release, the company successfully raised $6 million via an institutional placement at a 10.2% discount of 44 cents per share.
Althea will now seek to raise a further $3 million via a share purchase…
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