Australia's Envirosuite drops on discounted share placement

Envirosuite

03/12/2021 03:39

** Shares of Envirosuite Ltd  EVS.AX  drop as much as 6.7%
to A$0.210
    ** Environmental tech co says it has raised A$10.5 mln 
($7.42 mln) via share placement  urn:newsml:reuters.com:*:nASX5zkQpm
    ** Issue price of A$0.20 per share represents a discount of
11.1% to the stock's closing price on Dec. 1, when it last
traded
    ** Co says funds raised will be used to increase investment 
in EVS Water business
    ** Shares up 23% YTD, as of last close


($1 = 1.4152 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))