Australia's Fertoz falls to over a month-low on discounted placement

Canadian Phosphate

22/08/2022 06:41

** Shares of Fertoz  FTZ.AX  fall as much as 7.1% to
A$0.195, their lowest since July 1 
    ** The phosphate maker says it has received firm commitments
to raise A$5 million ($3.45 million) via a share placement 
 urn:newsml:reuters.com:*:nFWN2ZW06M
    ** Co says funds raised will be used to accelerate its
carbon and fertiliser divisions including finalising the
construction of a fertiliser pellet plant in Montana in U.S.,
among others 
    ** Issue price of A$0.18 per share is at a 14.3% discount to
the last trading price on Aug 17 
    ** Shares to see worst day since Aug 16 - if losses hold
    ** Stock has fallen ~16% this year, as of last close

($1 = 1.4497 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))