Australia's Codeifai skids on discounted placement

Codeifai

23/01/2026 03:36

** Shares of Codeifai CDE.AX falls 16.7% to A$0.01

** Stock on track for its largest intraday pct loss since December 11, if trends hold

** Tech solutions provider receives firm commitments to raise A$1.1 million ($751,960.00) via a placement

** Placement issue price at A$0.0076, a 36.7% discount to stock's last close

** Says funds will be used for business development and working capital needs, among others

** More than 15.9 million shares change hands, 10.9 times the 30-day average

** Stock fell 20% in 2025

($1 = 1.4628 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))