Australia's ActivePort hits record low on discounted rights issue

ActivePort

10/10/2024 24:49

** Shares of Australia's ActivePort Group  ATV.AX  fall as
much as 51% to an all-time low of A$0.024
    ** Software firm announces undertaking a 3-for-4
renounceable rights issue to raise A$5.3 mln ($3.56 mln) at an
issue price of A$0.02 per share
    ** Issue price at a discount of 59.2% to stock's last
closing 
    ** Funds raised will be used to advance new software
projects, others - co 
    ** Stock had fallen 76.5% this year by 2343 GMT

($1 = 1.4892 Australian dollars)

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