Australia's Ava Risk drops on discounted placement of nearly 19%

Ava Risk

28/03/2024 04:41

** Shares of Ava Risk Group  AVA.AX  fall as much as 17.2%
to A$0.133, their lowest since June 30, 2021
    ** Technologies and services provider says its A$3 mln
($1.96 mln) institutional placement is complete
    ** Adds, it is launching a share purchase plan for eligible
existing shareholders to raise additional A$1 mln 
    ** Placement at issue price of A$0.13 per new share, an
18.8% discount to AVA's last close
    ** Over 628,000 shares change hands, 3.2x the 30-day avg
volume 
    ** Including day's losses, stock down ~20% YTD 

($1 = 1.5316 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))