Here’s why the Firefinch (ASX:FFX) share price is combusting today

heres why the firefinch asxffx share price is combusting today

Sumary of Here’s why the Firefinch (ASX:FFX) share price is combusting today:

  • The market is bidding the Firefinch Ltd (ASX: FFX) share price lower after the company announced the completion of its heavily oversubscribed share purchase plan.
  • At the time of writing, the Firefinch share price is 64.2 cents, 8.94% lower than its previous close.
  • Firefinch share price tumbles on Thursday Firefinch shareholders turned up in droves to take advantage of a share purchase plan offering Firefinch shares for 58 cents apiece.
  • The 58-cent price tag represents a 17.7% discount on the Firefinch share price at yesterday’s close.
  • Though, when the capital raise was announced, it represented a 10.8% discount on the 5-day volume average weighted price.
  • According to the company’s managing director Dr Michael Anderson, approximately 40% of shareholders took up the opportunity.

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