Australia's Avenira slumps on discounted placement

Avenira

08/09/2022 02:18

** Shares of Avenira Ltd  AEV.AX  fall as much as 15.4% to
A$0.011 in their biggest intraday pct loss since Aug. 31 
    ** Co says it plans share placement to raise A$2.1 mln 
($1.42 mln) (https://bit.ly/3BlFra1)
    ** Says placement involves issue of up to 210 mln fully paid
ordinary shares at A$0.01 per share, a discount of about 23.1%
to its last closing price on Sept. 8
    ** Says funds will be used for scoping study and bankable
feasibility study on Wonarah phosphate project in Northern
Territory, among others 
    ** As of last close, shares had fallen 18.75% YTD 
($1 = 1.4826 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))