** Shares of Ionic Rare Earths fall as much as 22.2% to A$0.007, posting their biggest intraday percentage decline since Aug. 13
** Stock hits its lowest level since Sept. 27
** Rare earths explorer says it will raise A$1.7 mln ($1.10 mln) via placement at A$0.007 per share
** Issue price represents a 22.2% discount on co's last close
** About 26.7 mln shares change hands, compared with the 30-day average volume of around 3.4 mln
** Stock down 73.1% YTD, including session's move
($1 = 1.5497 Australian dollars)
(Reporting by Aaditya Govind Rao in Bengaluru)
((Aaditya.govindrao@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.