China Natural Resources shares are trading lower after the company announced a $3.27 million registered direct placement.
Portfolio Pulse from Benzinga Newsdesk
China Natural Resources, Inc. (CHNR) announced a $3.27 million registered direct placement, leading to a decrease in its share price.
February 16, 2024 | 3:56 pm
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China Natural Resources, Inc. announced a $3.27 million registered direct placement, causing its stock price to decline.
The announcement of a registered direct placement often leads to a decrease in share price due to the dilution of existing shares. In the case of CHNR, the $3.27 million placement is significant enough to impact investor sentiment negatively, leading to a short-term decrease in stock price.
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