Australia's ECS Botanics slumps most in 10 months on discounted share offering

ECS Botanics Holdings

29/10/2021 04:44

** Shares of ECS Botanics Holdings  ECS.AX  fall as much as
15% to A$0.033, head for worst day since December 2020
    ** Hemp-based food maker says it will raise A$6.6 mln ($4.97
mln) through issue of 200 mln new shares  urn:newsml:reuters.com:*:nFWN2RO2PT
    ** Co says it will issue new shares at A$0.033 per share,
representing a discount of 15% as of the last close on Oct. 26
    ** Stock hits lowest since Aug. 2021
    ** About 22 mln shares change hands, compared with the
30-day average volume of 1.6 mln share
    ** Stock down 5.4 % this week, as of last close 


($1 = 1.3268 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))