Australia's Damstra Holdings hits record low on discounted placement

Damstra Holdings

06/12/2021 01:15

** Shares of workforce management solutions provider Damstra
Holdings  DTC.AX  slide as much as 12.5% to their all-time low
of A$0.350 
    ** Co raises about A$10 mln ($9.68 mln) via placement to
grow sales capability in North American market  urn:newsml:reuters.com:*:nASX6nJLht
    ** Co also raises A$3.8 mln via pro rata non-renounceable
entitlement offer
    ** The placement offer price of A$0.34 per new share
represents a 15% discount to co's last closing price
    ** Placement of 29.4 mln new shares represents 14.8% of
shares on issue
    ** Shares on track for their worst day since Nov. 26
    ** As of last close, stock down 74.4% this year

($1 = 1.4259 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))