ASX-listed Frontier Digital Ventures falls on discounted placement

Frontier Digital Ventures

17/12/2021 02:23

** Shares of Frontier Digital Ventures Ltd  FDV.AX  drop as
much as 4.4% to A$1.51, set for their worst session since Nov.
29
    ** Online classifieds operator says it raised A$35 mln
($25.13 mln) by issuing 26.7 mln new shares  urn:newsml:reuters.com:*:nFWN2T11IT
    ** The issue price of A$1.58/share represents a discount of
5.1% to Tuesday's close after which shares went into a trading
halt 
    ** Funds raised will be used to fund its acquisition of 
73.7% interest in Central America-based classified marketplace
Encuentra24 
    ** Adds it will raise up to A$5 mln at the same offer price
as placement
    ** As of last close, stock has risen 6% this year

($1 = 1.3928 Australian dollars)

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