Australia's ActivePort Group falls on discounted placement

ActivePort

09/08/2024 01:46

** Shares of Australia's ActivePort Group  ATV.AX  fall as
much as 30% to A$0.049, their lowest level since July 23
    ** Software firm receives commitments to complete A$1.9 mln
($1.25 mln) placement at an issue price of A$0.05 per share
    ** Issue price represents a discount of 28.6% to stock's
last close
    ** Placement to fund and expand customer projects into
Southeast Asia, India, the Middle East and Africa - ATV
    ** Nearly 1.4 mln shares change hands by 0038 GMT, vs the
30-day average volume of 351,372 shares
    ** Stock down 28.6% YTD, as of last close

($1 = 1.5191 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))