Australia's Fertoz drops after discounted share placement

Canadian Phosphate

08/07/2021 02:37

** Shares of phosphate maker Fertoz Ltd  FTZ.AX  drop as
much as 22% to A$0.195
    ** Co says it received bids to raise A$5 mln ($3.73 mln) via
a placement of 33.3 mln shares at $0.15 per share  urn:newsml:reuters.com:*:nASN001F81
    ** Placement shares represent nearly 32.7% of co's 101.96
mln shares on free float, as per Refinitiv data
    ** Placement price at an 40% discount to co's last close
price of A$0.25 
    ** Stock posts its biggest intraday pct fall since Dec 21,
2020
    ** About 1.5 mln shares change hands, compared with the
30-day average of about 795,000 shares
    ** Stock more than quadrupled this year, as of last close

    ($1 = 1.3403 Australian dollars)

 (Reporting by Soumyajit Saha in Bengaluru)
 ((Soumyajit.Saha@thomsonreuters.com;))