Australia's Electro Optic Systems slides on discounted placement

Electro Optic Systems Holdings

24/03/2024 23:56

** Shares of Electro Optic Systems  EOS.AX  fall as much as
19% to A$1.685 - set for worst session since Sept. 8, 2022, if
current losses hold
    ** Shares hit their lowest level since Feb. 28
    ** Co completes A$35 mln ($22.80 mln) placement
    ** Issue price of A$1.70 per share represents an 18.3%
discount to stock's last closing price
    ** EOS top loser in the ASX All Ordinaries index  .AORD  
    ** Stock had doubled in value this year, as of last close

($1 = 1.5352 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))