Sirius dives on hefty fundraising

摘要

Potash mining company sirius minerals got funding for its North Yorkshire mining project last week, but not without suffering substantial pain in the aftermarket. Sirius stock was down more than 16% in early trading on Wednesday, shortly after launching a concurrent US$400m-$450m convertible bond and a £330m-£400m firm placing, placing and open offer, with the shares closing the day down 10.135% at 33.25p. Both the convertible bond and the equity leg were underwritten by JP Morgan.