Australia's DUG Technology hits 7-1/2-month low on discounted placement

DUG Technology

17/10/2024 03:07

** Shares of DUG Technology  DUG.AX  fall as much as 9.9% to
A$1.965, hitting their lowest level since Feb. 28
    ** Software developer raises A$30 mln ($20.11 mln) through
placement at issue price of A$1.90 per share
    ** Says issue price at 12.8% discount to stock's last close
    ** Stock posts its biggest intraday pct decline since Sept.
19
    ** About 1.6 mln shares change hands, compared with the
30-day average volume of 520,892
    ** Stock up more than 5% YTD, as of 0201 GMT

($1 = 1.4919 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))