Australia's Adalta stumbles on discounted placement

Adalta

07/11/2023 03:28

** Shares of Australia's Adalta  1AD.AX  fall as much as
8.7% to A$0.021, their lowest since Oct. 10
    ** Drug discovery co said on Friday it will raise A$1.2 mln
($778,320.00) via placement at A$0.02 per share
    ** Offer price represents a 13% discount on co's last close
on Thursday
    ** Shares had been on a trading halt on Friday and Monday
    ** Stock posts its biggest intraday percentage fall since
Sept. 25
    ** Stock down 43.9% YTD, based on last close

($1 = 1.5418 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))