Australia's Amaero International falls on discounted placement

Amaero

20/11/2023 23:58

** Shares of Amaero International  3DA.AX  fall as much as
13.16% to A$0.165, their lowest level since Nov 13
    ** 3D products manufacturer says received firm commitments
to raise A$10 mln ($6.51 mln) via two-tranche placement
    ** Issue Price of A$0.1600 per share represents a discount
15.8% to last close - Reuters calculation
    ** Co says funds raised will be used for the Tennessee
facility fit out and purchase of capital equipment
    ** Stock up 18.8% this year as of last close

($1 = 1.5366 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))