Australia's ClearVue Technologies falls most in 6-1/2 months on discounted capital raise

ClearVue Technologies

01/03/2024 24:46

** Shares of ClearVue Technologies  CPV.AX  slip as much as
15.2% to A$0.475, their biggest intraday pct loss since Aug 18,
2023 
    ** The sustainable building solution provider says it has
received firm commiments to raise A$4 mln ($2.60 mln)
    ** Co also offers a share purchase plan to raise up to A$2
mln 
    ** Issue price of A$0.50 per share is at a 10.7% discount to
last close on Feb 27 
    ** Says funds raised will be used to complete & finalise
testing & certification of co's Gen-2 products
    ** Shares hit their lowest level since Jan 2 
    ** About 1 mln shares exchange hands vs the 30-day avg of
872,123 share
    ** ClearVue stock up 14.3% YTD, as of last close 
    
    ($1 = 1.5387 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))