Australia's Felix hits over 3-week low on discounted placement

Felix group

04/05/2022 07:07

** Shares of Felix Group Holdings Ltd  FLX.AX  fall as much
as 21.2% to A$0.26, their lowest since April 13
    ** Co says raised A$6.4 mln via placement and share purchase
plan  urn:newsml:reuters.com:*:nASX13vTZr
    ** Co raised A$3.7 mln ($2.63 mln) in the placement at
A$0.30/share, a 9.1% discount to the stock's last closing price
of A$0.33 on April 29  urn:newsml:reuters.com:*:nASX13vTZr
    ** Strategic partner and global construction co InEight
invested A$2.75 mln at A$0.36/share, a 9.1% premium to the April
29 close
    ** Stock went on trading halt on May 2 pending an
announcement on capital raise
    ** Proceeds will be used to fund increase in sales and
marketing initiatives as part of the InEight partnership, and as
working capital 
    ** Stock marks its biggest fall since April 12
    ** Stock up 4.8% this year, as of last close

($1 = 1.4081 Australian dollars)

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com;))