Australia's IXUP drops on discounted placement

Dataworks

26/09/2024 05:28

** Shares of IXUP Limited  IXU.AX  falls as much as 22.2% to
A$0.014, its lowest since Sept. 11
    ** Data encryption co receives firm commitments to raise
A$1.85 mln ($1.27 mln) through a share placement 
    ** Issue price of A$0.015 at ~17% discount to the last close
on Sept. 20
    ** Co says funds will be used for pipeline development and
conversion, and facilitate ongoing business, among others
    ** Over 3.4 mln shares traded, 2.6x the 30-day avg
    ** IXU down 50.6% YTD as at 0212 GMT

($1 = 1.4618 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))