Australia's Avecho Biotechnology falls on discounted share placement

Avecho Biotechnology

10/02/2021 04:04

** Shares of Avecho Biotechnology  AVE.AX  fall as much as 
3.7% to A$0.026 - their biggest intraday pct loss since Feb. 3
    ** Biotech firm raises A$5.06 mln ($3.92 mln) at an issue
price of A$0.022/shr, a 18.5% discount to its close on Friday,
when the stock last traded  urn:newsml:reuters.com:*:nASX474t2p
    ** Shares being offered under placement represent 20.2% of
co's free float
    ** Stock down 6.9% this year, as of last close 


($1 = 1.2923 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))