Australia's Earlypay eyes worst day in 4 months after placement

Earlypay

24/06/2021 03:46

** Shares of Earlypay Ltd  EPY.AX  fall as much as 7.3% to
A$0.455, on course for their worst session since Feb. 18
    ** Financing solutions provider received commitments to
raise A$18.857 mln ($14.28 mln) via placement  urn:newsml:reuters.com:*:nASX993rBY
    ** Share placement at an issue price of A$0.42 per share, a
discount of 12.5% to stock's closing price on June 21, when it
last traded
    ** Co says placement to fund new trade finance product
expansion and strengthen balance sheet
    ** Stock at its lowest since May 20
    ** More than 820,000 shares change hands, vs the 30-day
average volume of ~260,000 shares
    ** Stock up 29.7% this year, as of last close
    


($1 = 1.3203 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))