Ferrexpo shares plummet as miner cautions over funding options

Ferrexpo PLC (LSE:FXPO) share plummeted in London on Wednesday, losing 24.5% to 32.58p, after it told investors that a planned equity raise of at least US$100 million is now the miner's only realistic funding option, as the iron ore producer warned it has enough accessible cash only until the end of August and could face a suspension of its London listing next month if a deal is not completed in time. The group said the proposed fundraising would support working capital and short-term operations while it runs at reduced capacity over the next 18 months.