Australia's Control Bionics gains on premium placement

Control Bionics

25/02/2025 01:21

** Shares of Australia's Control Bionics  CBL.AX  rise as
much as 4.8% to A$0.044, its highest level since February 17
    ** The medical device manufacturer raises A$2.0 million 
($1.27 million) via private placement at an issue price of
A$0.045 per share 
    ** Issue price represents a premium of 7.1% to stock's last
closing
    ** Funds raised to help the company "focus on revenue growth
in its core operations and the expansion into new high-potential
markets" — CBL
    ** Stock has fallen 26.7% this year, as of 0118 GMT


($1 = 1.5778 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))