Paladin’s $69M Equity Raise Prompts Price Target Slash

FP reported on Paladin Energy (ASX:PDN) moved to raise $69 million through private placement.

The market news is quoted as saying:

The Perth, Australia-based uranium producer said Wednesday it had completed the financing through the issue of 56.9 million shares at $1.22 each.

Raymond James Ltd, analyst, Bart Jaworski said:

“We are surprised Paladin would issue equity at such dilutive levels.”

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