Iron developer Flinders Mines will raise A$16-million through a non-renounceable entitlement offer, priced at 5.5c a share.
Some 290-million new shares will be issued on the basis of one new share for every 11 existing shares held by eligible shareholders, with the offer price representing a discount of around 22% to the 30-day volume weighted average price of Flinders shares for the period ending April 13.
