Australia's Decmil falls to near 16-mth low on discounted placement

Decmil

26/07/2021 03:32

** Shares of construction and engineering firm Decmil Group
Ltd  DCG.AX  fall as much as 9.3% to A$0.390, their lowest since
late March 2020
    ** Co announces A$10 mln ($7.36 mln) placement and A$2 mln
share purchase plan (SPP) to fund growth, along with A$20 mln
subordinated debt facility  urn:newsml:reuters.com:*:nASX6kX6PY
    ** Placement at an issue price of A$0.40 piece, a discount
of ~7% to its last close on July 21, after which co went on
trading halt
    ** Co to issue around 25 mln shares in the two-tranche
placement, which makes up around 23.2% of its free float
    ** Stock posts biggest intraday pct fall since Nov 2020
    ** About 823,765 shares change hands, triple the 30-day avg
volume of 270,761
    ** Stock has lost 31.8% this year, as of last close

($1 = 1.3594 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))