Shares of Australia’s kaolin producer, WA Kaolin (ASX:WAK), have experienced a marked increase, rising to A$0.155, a 14.8% rise.

This reflects the company’s largest intra-day percentage gain since May 31, 2021, and the stock has reached its highest point since July 6.

WA Kaolin (ASX:WAK) and Stanco International have executed an equity investment valued at A$7.7 million ($5.03 million).

The agreement specifies that Stanco will subscribe for 45.5 million fully paid ordinary shares of WA Kaolin at an issue price of A$0.17 per share.

This offer price represents a 25.9% premium to the company’s last closing price.

Despite these recent gains, WA Kaolin’s (ASX:WAK) stock has fallen 10% this year up until the last close.

WA Kaolin is an Australian company specializing in the industrial production of the clay mineral, kaolin.