Business
Here’s why the Galaxy Resources (ASX:GXY) share price is in a trading halt
The Galaxy Resources Limited (ASX: GXY) share price has been an impressive performer this month.
Since the start of November, the lithium miner’s shares have stormed 43% higher.
However, the Galaxy share price won’t be extending this incredible run on Wednesday after it requested a trading halt.
Why is the Galaxy share price in a trading halt?
This morning the company has decided to take advantage of this strong share price rise and undertake an equity raising.
Galaxy has announced that it is aiming to raise a total of $161 million from investors. This comprises a fully underwritten $111 million institutional placement and a $50 million fully underwritten 1 for 14 pro-rata accelerated non-renounceable entitlement…
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