Nickel Mines: Raises $179M via institutional entitlement offer
- Nickel Mines (NIC) has successfully completed its institutional entitlement offer, raising approximately $179 million
- Under this entitlement offer, shareholders also received one new share for every 3.6 shares held at a price of 50 cents each
- This represented an 11.5 per cent discount to the last trading price of 56.5 cents on May 18
- Nickel Mines will now be undertaking the retail component of the entitlement offer to raise an additional $52 million
- Currently, it holds 60 per cent in each project but hopes to increase that to 80 per cent
- Nickel Mines has ended the day a slight 1.63 per cent in the green with shares trading for 56 cents each