Australia's BluGlass hits lowest in nearly 3 months on discounted placement

Bluglass

24/03/2022 02:38

** Shares of semiconductor maker BluGlass Ltd  BLG.AX  fall
as much as 6.3% to A$0.03, hitting their lowest since Dec. 29,
2021
    ** Co announces A$3.4 mln ($2.55 mln) capital raise to fund
acquisition of a commercial laser diode production facility
lease and manufacturing equipment  urn:newsml:reuters.com:*:nASX1hRTVm
    ** Says issue price of A$0.03/share represents a discount of
6.3% to stock's last close on March 22
    ** Also announces A$7.5 mln non-renounceable entitlement
offer at an issue price of A$0.03/share
    ** Stock posts its biggest intraday pct loss since March 16
    ** More than 5.1 mln shares change hands, compared with the
30-day average volume of about 750,000 shares
    ** Stock flat this year, as of last close


($1 = 1.3346 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))