Australia's Pearl Global falls on discounted placement

Entyr

07/03/2022 04:24

** Shares of Pearl Global  PG1.AX  fall 16.7% to A$0.02, set
for worst day since Feb. 10 if losses hold
    ** Co says it has received commitments to raise the balance
of A$3.998 mln ($2.96 mln) under its A$5 mln pro-rata
non-renounceable entitlement offer  urn:newsml:reuters.com:*:nASX4CSHPC
    ** The issue price of A$0.02 per shares represents a
discount of 16.7% to Friday's close price 
    ** Co says 159.5 mln shares are being issued to raise
A$3.189 mln and 40.4 mln shares to raise A$0.809 mln are
expected to be issued in the coming week
    ** Stock hits its lowest since Feb 14 
    ** As of last close, stock up 14.3% this year    



($1 = 1.3486 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))