Australia's Calix slumps on discounted placement

Calix

09/12/2024 01:14

** Shares of technology company Calix  CXL.AX  fall as much as
12.8% to A$0.785, their lowest level since Nov. 7
** Co says it has completed raising A$20 million ($12.8 million)
through an issue of 26.7 million shares
    ** Offer price of A$0.75 represents a 16.7% to closing price
on Dec. 5; trade was halted on Dec. 6
    ** Co to use proceeds to invest in activities in Leilac,
lithium, and ZESTY (iron and steel)
    ** More than 301,000 shares change hands, compared with the
30-day average volume of around 232,000
    ** Stock has fallen 73.8% this year, as of last close
     
     
    ($1 = 1.5640 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))