Australia's FBR falls most in about 2 weeks on discounted placement

FBR

09/10/2023 01:35

** Shares of FBR  FBR.AX  slip as much as 9.4% to A$0.029,
posting their biggest intraday pct fall since Sept 27 
    ** Robotic technology co says it completed an institutional
placement to raise A$6.2 mln ($3.95 mln)
    ** Issue price of A$0.025 per share represents a 21.9%
discount to last close on Oct 4
    ** Says funds raised to be used to progress
commercialisation strategy for a Wall as a Service partnership
in the United States, among others
    ** Shares hit their lowest level since Oct 3 
    ** About 4.7 mln shares change hands vs the 30-day average
of 1.7 mln shares
    ** FBR stock down 15.8% YTD, as of last close 
    
($1 = 1.5694 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))