Australia's FBR hits over 2-month low on discounted placement

FBR

07/09/2026 03:59

** Shares of Australia's FBR FBR.AX fall as much as 24.1% to A$0.11, hitting their lowest level since June 29
** Stock posts its biggest intraday pct fall since July 17
** Robotic tech co gets firm commitments to raise A$1.5 million ($1.08 million) via placement at an issue price of A$0.115 per share 
** Issue price at a discount of 20.7% to the stock's closing price on September 2, before the company went on a trading halt on September 3
** Funds to be used to advance commercialisation of the co's Hadrian platform and Mantis welding robot
** YTD stock down 41.3%, including session's moves

($1 = 1.3891 Australian dollars)

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))