Australia's Altech Batteries falls on discounted placement

Altech Batteries

07/08/2024 01:46

** Shares of Australia's Altech Batteries  ATC.AX  fall as
much as 2.2% to A$0.045, down for a fifth consecutive session
    ** Battery technology co launches A$8.5 mln ($5.55 mln)
pro-rata entitlement offer at an issue price of A$0.04 per share
    ** Issue price represents a discount of 13% to stock's last
closing
    ** Co says funds will be used for completion of fabrication
of battery prototypes for CERENERGY project among others
    ** About 336,000 shares change hands by 0039 GMT, vs the
30-day average volume of 1.1 mln shares
    ** Stock down 32.4% YTD, as of last close

($1 = 1.5309 Australian dollars)

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