Australia's Bikeexchange dips on discounted share placement

Bikeexchange

05/09/2023 02:27

** Shares of Bikeexchange Ltd  BEX.AX  dip as much as 11.1%
to A$0.008, on track to drop most since Aug 28, if losses hold  
    ** Stock hits lowest level since Aug 29
    ** The bike retailer receives firm commitments for a share
placement to raise A$1.4 mln ($902,580)
    ** Issue price of A$0.007 represents a discount of 28.6% to
stock's last closing of A$0.009 on Aug 31
    ** Co's shares were placed on a trading halt on Sept 1
    ** Stock down 30.8% this year, as of last close

     ($1 = 1.5511 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))