Aussie AMA Group eyes worst day in near 15 years on discounted capital raise

Ama

08/09/2023 02:36

** Shares of AMA Group Ltd  AMA.AX  fall as much as 40.4% to
A$0.063, on track for worst day since Oct 24, 2008, if losses
hold
    ** Co launches fully underwritten A$55.0 mln ($35.08 mln)
equity raising at A$0.075 a share, reflecting 29.2% discount to
stock's last close; funds to be used to repay part of debt
    ** Trading halted from Aug 31
    ** Co posts FY loss after income tax roughly inline with
previous year 
    ** Shares hit their lowest since Dec 2, 2010
    ** About 38.7 mln shares change hand at 0125 GMT compared to
30-day average trading volume of 2.2 mln shares 
    ** AMA down ~44% this year as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))