Firstwave Cloud Technology hits over 5-week low on discounted placement

Firstwave Cloud Technology

29/11/2021 02:44

** Shares of the Australian cloud security services provider
 FCT.AX  fall as much as 11.1% pct to A$0.08, their lowest since
Oct. 22
    ** Co raises up to A$14 mln ($10 mln) at A$0.07/share, a 22%
discount to the stock's Friday close  urn:newsml:reuters.com:*:nASX4qhCXg
    ** FCT also says to buy network management, automation and
IT audit software provider Opanamtek
    ** Funds will be used to repay loan of Opanamtek, among
others
    ** Stock posts biggest intraday fall since Oct. 27
    ** About 1.5 mln shares change hands vs the 30-day average
volume of 1.4 mln shares
    ** As of last close, stock is down 33.8%

($1 = 1.4004 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))