Australia's Altech Chemicals hits over 4-1/2-year low on German court ruling

Altech Advanced Materials AG

21/01/2020 24:48

** Shares of Australia's Altech Chemicals Ltd  ATC.AX  fall
as much as 20.6% to A$0.058, their lowest since June 23, 2015 
    ** The high-purity alumina supplier says Germany's Mannheim
local court denies registration of new shares issued from Altech
Advanced Materials AG (AAM)  AMA1.F  due to a technical issue
 urn:newsml:reuters.com:*:nFWN29P0KZ
    ** Recently, Altech announced the sale of an option to Frank
Youbisheng Green Paper AG, which was then renamed to AAM 
    ** Co says new shares were to be issued as part of AAM's
recently completed 2 mln euros ($2.22 mln) rights offer
    ** About 3.3 mln shares change hands, vs the 30-day average
volume of 693,656
    ** Stock has risen 6.7% in 2019 

($1 = 0.9013 euros)

 (Maria Ponnezhath in Bengaluru)