SYDNEY: Shares in Australia's Lynas Corp 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. ($1 = 0.9635 Australian dollars)
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