Australia's Archtis falls on discounted placement

Archtis

01/07/2025 04:12

** Shares of Archtis Ltd AR9.AX fall as much as 19.6% to A$0.185

** Biggest intraday fall since June 24

** The data-centric software solution provider says it secured firm commitments for share placement worth A$7.5 million  ($4.93 million)

** To issue 50 mln shares at an issue price of A$0.15 per share

** Issue price represents discount of 34.8% to AR9's last close on June 27

** New shares represent ~26% of AR9's free float of 190.5 million, as per LSEG data

** AR9 says placement will help ramp up its growth in U.S. defence market, among others

** More than 1.2 mln shares change hands, vs 30-day avg of ~810,000 shares

** Stock up ~200% YTD, including the session's moves

($1 = 1.5228 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))