Australia's BluGlass falls on discounted placement

Bluglass

13/04/2026 04:50

** Shares of Australia's BluGlass BLG.AX fall as much as 13.8% to A$0.25, post their biggest intraday pct drop since March 19

** Stock touches lowest level since April 2

** Semiconductor developer says it would raise A$8.0 million ($5.63 million) through placement

** Issue price of A$0.24/share represents 17.2% discount to stock's last close

** Co says funds raised to be used to scale up co's gallium nitride laser operations, among others

** Stock up 6.4% YTD, including day's moves

($1 = 1.4221 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))