Business
CHN) share price flat on upsizing
The Chalice Mining Ltd (ASX: CHN) share price has taken a slight knock and enters the red today. Shares are trading sideways after the company announced the upsizing of its share purchase plan, as a result of it being heavily oversubscribed.
Details of the upsizing
Chalice cited strong support from eligible shareholders in the share purchase plan (SPP). This has led to a substantially oversubscribed SPP. Reportedly, more than 2,300 applications were received to take part. The resulting value totals $47 million worth of shares at the issuant price of $3.75.
This comes after Chalice recently successfully completed the institutional portion of the placement on 8 December, raising $100 million.
The board of directors, under their…
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