Australia's Altech Batteries falls most in nearly 2-1/2 years on discounted raise

Altech Batteries

17/07/2023 02:55

** Shares of Australia's Altech Batteries  ATC.AX  dive as
much as 18.8% to A$0.078, biggest intraday fall since Jan 29,
2021, on current trends
    ** The battery metals tech firm announces capital raise of
A$15.8 million ($10.77 million) to further progress its Silumina
Anodes project in Germany, among others 
    ** Issue price of A$0.07 a share represents a discount of
about 27% to ATC's last close on July 12
    ** ATC hits lowest level since March 28
    ** Stock had been on a trading halt since July 13
    ** About 7.2 mln shares change hands, compared with the
30-day average volume of about 1.7 mln shares
    ** Stock has risen 21.5% this year as of last close


($1 = 1.4667 Australian dollars)
    

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))