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Metal Bank Limited ( (AU:MBK) ) has issued an update.
Metal Bank Limited has announced a pro-rata non-renounceable entitlement offer to raise up to approximately $2.32 million. The offer allows eligible shareholders to purchase 1 new share for every 3 shares held, priced at $0.014 per share. The offer is partially underwritten for up to $1 million of any shortfall. The company does not anticipate a material effect on its control or significant consequences from the offer, given its pro-rata structure and current shareholder holdings.
More about Metal Bank Limited
Metal Bank Limited operates in the mining industry, focusing on the exploration and development of mineral resources. The company is primarily engaged in the discovery and advancement of gold and other valuable mineral deposits, targeting markets in Australia and New Zealand.
Average Trading Volume: 395,515
Technical Sentiment Signal: Buy
Current Market Cap: A$8.46M
Learn more about MBK stock on TipRanks’ Stock Analysis page.