Australia's Atomo Diagnostics falls on discounted placement

Atomo Diagnostics

24/04/2025 02:22

** Shares of Australia's Atomo Diagnostics AT1.AX fall as much as 10% to A$0.018, their lowest level since April 15

** Stock also posts its biggest intraday drop since April 15

** Medical devices maker says its undertaking capital raising to raise up to A$3.1 million ($1.97 million) at an issue price of A$0.0185 per share

** Issue price represents a discount of 7.5% to stock's last closing

** Funds from capital raising to be used to meet general working capital requirements

** Stock has risen 5.3% this year, as of 0118 GMT

($1 = 1.5721 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))