Australia's Dropsuite Ltd falls on share placement

Dropsuite

17/08/2021 02:25

** Shares of cloud-based software maker  DSE.AX  fall as
much as 8.5% to A$0.215, their lowest since July 23
    ** Stock posts its biggest intraday pct fall since July 22
    ** Co says it received binding commitments to place 95.2 mln
new ordinary shares at A$0.21/shr to raise A$20 mln ($14.65 mln)
 urn:newsml:reuters.com:*:nASX8GLj4H
    ** Placement price at 10.6% discount to last close price of
A$0.235, as on August 12
    ** Placement represents 23.2% of the 411 mln shares on free
float
    ** About 1.9 mln shares change hands, compared with 30-day
average of about 772,000 shares
    ** Stock has risen 62.1% this year, as of last close

($1 = 1.3654 Australian dollars)

 (Reporting by Soumyajit Saha in Bengaluru)
 ((Soumyajit.Saha@thomsonreuters.com;))