Reuters: Global Markets: Lynas shares drop 6 percent after capital raising for Malaysia plant

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Lynas shares drop 6 percent after capital raising for Malaysia plant Nov 11th 2012, 23:19 SYDNEY | Sun Nov 11, 2012 6:19pm EST SYDNEY (Reuters) - Shares in Australia's Lynas Corp (LYC.AX) dropped 6.2 percent on Monday after the company said it raised A$150 million ($156 million) to help fund the start-up of its controversial Malaysian rare earths plant through a placement to institutional investors. A further A$50 million will be sought from retail investors. Shares in Lynas surged 12 percent on Thursday after a court lifted a suspension on its licence to operate the processing plant. The shares were suspended on Friday after it announced the capital raising. The stock was down 5 percent at A$0.76 at 1110 GMT.

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