Australia's Clean TeQ hits near 4-month low on discounted placement

Clean Teq Water

27/10/2022 01:35

** Shares of Clean TeQ Water Ltd  CNQ.AX  fall as much as
14.7% to A$0.405, hit their lowest level since July 7
    ** The water treatment co announces a A$5 mln ($3.25 mln)
placement to fund its pipeline of existing projects,
commercialization Nematiq, among others  urn:newsml:reuters.com:*:nASX5yrhJ2
    ** Issue price of A$0.38 per share represents a discount of
about 20% to its last close on Oct 24, after which it went on a
trading halt 
    ** More than 120,000 shares change hands, compared with the
30-day average volume of about 29,000 shares
    ** Clean TeQ stock down 32.1% this year, as of last close
    ($1 = 1.5404 Australian dollars)
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))