Australia's Credit Clear hits over 3-week low on discounted placement

Credit Clear

02/06/2022 04:37

** Shares of the receivables solutions firm Credit Clear
 CCR.AX  slide as much as 5.4% to A$0.435, their lowest since
May 10 
    ** Co raises A$7.5 million ($5.37 million) from new and
existing institutional shareholders  urn:newsml:reuters.com:*:nASX18WnV7
    ** Says placement was conducted at an offer price of A$0.43
per share, a discount of 6.5% to the last close price of A$0.46 
    ** Adds that proceeds will be used to streamline co's client
onboarding capabilities by creating efficiencies in the
deployment of the platform 
    ** More than 171,900 shares change hands as compared with
the 30-day average volume of ~169,600 shares  
    ** Stock up 7% this year, as of last close, vs 3.9% decrease
in the benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.3963 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))