Australia's Archtis at over 4-month low on discounted placement

Archtis

12/11/2021 01:26

** Shares of data security firm Archtis Ltd  AR9.AX  fall as
much as 11.3% to A$0.235, hitting their lowest since July 1
    ** Co announces placement to raise A$6.5 mln ($4.74 mln)to
expand its product offering and geographic reach  urn:newsml:reuters.com:*:nASXF6MFB
    ** Issue price of A$0.23 per share represents a discount of
13.2% to their last close on Nov 9, after which the stock went
on a trading halt 
    ** Co to also offer a Share Purchase Place (SSP) to raise
another A$1.5 mln at same terms as the placement
    ** Stock posts its biggest intraday percentage fall since
Sept 20
    ** More than 1.4 mln shares traded vs. 30-day volume of
about 400,000 shares; sees busiest day since Sept 14
    ** Stock down 14.5% this year, as of last close

    ($1 = 1.3725 Australian dollars)

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