CAPITAL MARKETS

Austral float falls short

MADAGASCAR-focused zircon hopeful Austral Resources has withdrawn its initial public offer, citing adverse market conditions in a failure to raise a minimum subscription of $A3.5 million.

Justin Niessner

Austral float falls short

The announcement comes after an initial closing date of April 12 was extended to May 3. The offer of 17.5 million shares at 20c represented the minimum budget for advancing the company’s Beravina zircon...

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