Aussie Advanced Health posts record intraday drop on discounted share issue

Advanced Health Intelligence

14/06/2023 04:31

** Shares of Advanced Health Intelligence Ltd  AHI.AX  dip
as much as 61.3% marking a record intraday drop to A$0.155 
    ** Stock set to record its worst day, if losses hold 
    ** The healthcare solutions provider says agreed to issue 20
mln shares to an offshore investor to raise A$5 mln  ($3.39 mln)
    ** Issue price of 25 AU cents per share is at a 37.5%
discount to last close on June 13
    ** Says net proceeds primarily for business development and
marketing, among others
    ** Shares hit their lowest level since Sept 23
    ** About 6.8 mln shares change hands vs the 30-day average
of 201,555 shares 
    ** As of last close, AHI stock up ~312% this year
    
($1 = 1.4762 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))