Alliance Mineral shareholder Burwill pares stake in planned investment deal
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Singapore
ALLIANCE Mineral Assets' substantial shareholder Burwill Commodity has cut a planned investment into the Lithium miner, taking only 13 million new shares of a proposed 23.9 million share placement at S$0.33 per share.
The company carried out a placement exercise to sell the remaining 10.9 million shares at S$0.34 apiece, but placement agent and underwriter Canaccord Genuity had to mop up 7.6 million unsubscribed shares after placing 3.3 million shares with an unnamed Australian institutional investor.
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