Shares in Lynas have dropped 6.2 per cent this morning after the company said it raised $150 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 per cent 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.
In recent trade the stock was down 5 per cent at 76 cents.