Aussie Broadband falls most in more than a year on discounted placement

Aussie Broadband

03/11/2023 24:34

** Shares of Aussie Broadband  ABB.AX  fall as much as 10.5%
to A$3.51, marking their biggest intraday pct decline since
August 2022
    ** Stock hits its lowest level since Sept. 14
    ** Telecom firm says completed placement of A$120 mln
($77.15 mln)   
    ** Issue price of A$3.55 per share represents a discount of
9.4% to stock's last closing
    ** Issue of 34 mln shares represents 0.2% of co's free float
of ~169.5 mln shares - LSEG data
    ** Stock up 50.2% YTD, as of last close

($1 = 1.5555 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))