Ioneer (ASX:INR) dips substantially on discounted placement

The shares of Australia-based developer and explorer Ioneer Limited (ASX:INR) declined up to 18.2% to A$0.360 per share, marking the stock’s biggest intraday loss percentage-wise since 23 March 2020.

The Company has got commitments to raise A$80 million at A$0.38 price per share, a discount of 13.6% to last close.

The funds raised by the placement will be utilised to advance Company’s Rhyolite Ridge lithium-boron projects over the course of 2021.

The stock has hit the lowest since 4 February 2021.

Meanwhile, the stock was trading at A$0.380, down 13.637% with market capitalisation at A$741.79 million at 12:27 PM AEDT.

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