St Barbara shares zoom over 13% today, here's why

1 min read | December 14, 2022 05:48 PM AEDT | By Bhawna Gupta

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St Barbara shares zoom over 13% today, here's why — Image source: © Milslav78 | Megapixl.com

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Highlights

St Barbara has completed Genesis Minerals' (ASX:GMD) AU$275 million conditional placement.

Shares of St Barbara closed trading at AU$0.74 each, up 13.85% on ASX today.

Shares of Genesis Minerals ended at AU$1.35 per share, up 12.55%.

St Barbara Limited (ASX:SBM) informed today (14 December) that it has completed Genesis Minerals' (ASX:GMD) AU$275 million conditional placement.

The money raised from the placement will help with two important transactions, the demerger of St. Barbara's non-Leonora assets to St. Barbara shareholders to create "Phoenician Metals" (the "Demerger") and the merger of St. Barbara and Genesis via a Scheme of Arrangement to create "Hoover House" (the "Scheme").

Genesis has informed St. Barbara that the bookbuild for the Placement has been successfully finished. To complete the placement, approximately 229.2 million new Genesis shares, or 56% of the currently issued shares of Genesis, will be issued.

Meanwhile, shares of St Barbara closed trading at AU$0.74 each, up 13.85% on ASX today. Shares of Genesis Minerals ended at AU$1.35 per share, up 12.55%.

Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 14 December

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