Why Paladin Energy, Red 5, Woodside, & Zip shares are sinking

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decline. In afternoon trade, the benchmark index is down 0.5% to 6,714.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

The Paladin Energy share price is down 12.5% to 40.2 cents. Investors have been selling the uranium company’s shares following the completion of an institutional placement and entitlement offer. According to the release, Paladin Energy has raised $192.5 million and will now seek to raise a further $26.2 million from retail shareholders. The company raised the funds at a 20% discount to its last close price. The proceeds will be used to reset its balance sheet and provide enhanced…