Australia's Epsilon Healthcare hits record low on discounted placement

Epsilon Healthcare

09/12/2021 02:29

** Shares of Epsilon Healthcare Ltd  EPN.AX  drop as much as
14.3% to a record low of A$0.09
    ** The pharma co says it raised A$2.9 mln ($2.08 mln) via
share placement  urn:newsml:reuters.com:*:nASX6c4Qt9
    ** The issue price of A$0.09 represents a discount of 14.3%
to stock's closing price on Monday, after which shares went into
a trading halt
    ** Says funds raised will be used for expanding production
at its Southport facilities in Queensland Australia, among
others 
    ** Stock posts biggest intraday pct drop since Dec 1
    ** About 1.8 mln shares change hands, compared with the
30-day average volume of ~729,000
    ** As of last close, stock down 55.2% this year

    ($1 = 1.3957 Australian dollars)

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