Australia's Alcidion loses most in over 10 years on discounted capital raising

Alcidion

01/11/2023 01:04

** Shares of Australian digital health company Alcidion
 ALC.AX  fall as much as 26.3% to A$0.0715, marking their
biggest intraday pct drop since May 2013
    ** ALC stock at its lowest level since April 2019
    ** Co announces share repurchase plan (SPP) to raise A$1.0
mln ($632,700)
    ** Co adds same offer price as placement of A$0.075 per SPP
share, representing a discount of 22.7% to stock's last closing
    ** Issue of 13.33 mln shares represent ~0.015% of co's free
float of 903.2 mln shares - LSEG data
    ** Alcidion stock down 33.1% YTD, as of last close

    ($1 = 1.5805 Australian dollars)

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