Business
Why the Pure Hydrogen (ASX:PH2) share price sank 10% today
The Pure Hydrogen Corporation Ltd (ASX: PH2) share price was sinking today following the company’s completed placement. By the market’s close, the oil and gas exploration company’s shares were trading down 9.52% to 28.5 cents.
What’s lowering the Pure Hydrogen share price?
Investors have been dumping the Pure Hydrogen share price after an impending share dilution from the company.
According to its release, Pure Hydrogen has raised $9.4 million before costs through a placement to sophisticated and institutional investors. The company will issue 32,430,346 CHESS depositary interests over fully-paid ordinary shares (CDIs) for a price of 29…
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