Legacy to Raise AU$25 Million Through Rights Issue

Legacy Iron Ore Ltd. (ASX:LCY), the Australian arm of India’s state-owned National Mineral Development Corporation, plans to raise AU$25 million by way of rights issue, Steel Guru reported via The Economic Times.

As quoted in the market news:

A senior official of the Ministry of Steel said that “NMDC is likely to spend AUD 12.5 million to acquire rights equivalent to its 49.6% stake in Legacy Iron Ore.”

Click here for the full Steel Guru article.

Get the Latest Iron Investing Stock Information

Get the latest information about companies associated with Iron Investing delivered directly to your inbox.

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

“Do You Want To Know which Base Metal to Invest in 2017?”

Find out everything an investor needs to know about base metals with our all-in-one FREE market report on base metals investments.   Get My Free Report

Leave a Reply