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…
-
General18 hours agoCracks in the NACC. Brereton protected while corruption remains hidden
-
General22 hours agoJohn Cleese leads tributes to ‘perfect’ on-screen wife Prunella Scales
-
Noosa News20 hours agoQueensland government could face fresh court challenge over gender care ban
-
Noosa News24 hours agoSharks in feeding frenzy close to shore at world-renowned surf beach Snapper Rocks