Australia's FBR slides on discounted placement

FBR

27/03/2025 01:10

** Shares of FBR FBR.AX slide 41.2% to A$0.01, their lowest levels since March 23, 2020

** The robotic tech co receives firm commitments to raise A$6.3 million ($3.97 million) via a placement

** The placement issue price at A$0.01 per share, a ~41.2% discount to stock's last close

** Funds to be used as additional working capital as well as restructuring and development costs

** More than 79.3 million shares change hands, 5 times the 30-day avg

** Stock down 77.5% YTD, including current session's moves

   ($1 = 1.5886 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))