Australia's Excite Technology falls on discounted placement

Excite Technology Services

04/04/2024 02:12

** Shares of Excite Technology Services  EXT.AX  fall as
much as 25% to A$0.009, posting their biggest intraday pct
decline since March 5 
    ** Stock hits its lowest level since March 26
    ** Information technology co raises A$1 mln ($657,800.00) in
a placement at an issue price of A$0.008 per share
    ** Issue price represents a 33.3% discount to EXT's last
close
    ** About 7.4 mln shares change hands, compared with the
30-day average volume of 1.9 mln shares
    ** Stock up 50% this year, as of last close

($1 = 1.5202 Australian dollars)

 (Reporting by Megha  Rani)
 ((Megha.Rani2@thomsonreuters.com;))