Ferrexpo Slumps After Warning Cash May Run Out by End of August
Ferrexpo’s output is running at about a quarter of pre-war capacity.
Photographer: Evgeniy Maloletka/BloombergFerrexpo Plc slumped 13% after the Ukrainian iron ore producer warned that without fresh funding it could run out of cash by the end of August.
The London-listed company said on Wednesday that it’s considering an equity raise of at least $100 million as it races to shore up liquidity after Russia’s invasion of Ukraine curbed its operating capacity. That would support its operations over the next 18 months.