Farm Pride Foods hits over 1-month low on discounted placement

Farm Pride Foods

29/12/2022 24:18

** Shares of food manufacturing firm Farm Pride Foods
 FRM.AX  fall as much as 4% to A$0.120, hitting their lowest
level since Nov. 16 
    ** Co raises A$5.3 mln ($3.58 mln) at an issue price of
A$0.055 per share, a 56% discount to its closing price on Dec.
21, when the stock last traded  urn:newsml:reuters.com:*:nASX1LcRgL
    ** Stock marks biggest intraday percentage loss since Dec.
15 an is on track for a second consecutive session of losses 
    ** FRM is down 52.8% this year, as of last close 
($1 = 1.4813 Australian dollars)
 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))