Australia's Bio-Gene Technology falls on discounted placement

Bio-Gene Technology

15/03/2022 02:48

** Shares of agriculture tech co Bio-Gene Technology
 BGT.AX  slide as much as 12.5% to A$0.245
    ** Shares mark their biggest intraday pct loss since March 8
    ** Co completes strategic placement of A$1.5 mln ($1.08 mln)
with new cornerstone investors  urn:newsml:reuters.com:*:nASX4yZPld
    ** Issue price of A$0.20 per share represents a 28.6%
discount to BGT's last close
    ** As of last close, stock up 36.6% this year

($1 = 1.3922 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))