NZ's Geo sees best day in over 2 weeks on plans to raise funds

Geo

05/11/2020 24:31

** Shares of Geo  GEO.NZ  rise as much as 1.4% to NZ$0.071,
in their biggest intraday pct gain since Oct. 21
    ** Cloud-based applications firm announces to raise up to
NZ$2.0 mln ($1.34 mln) at 6.5 NZ cents/share  urn:newsml:reuters.com:*:nNZW6qGfYG
    ** Says capital raising will provide funding for general
working capital purposes for calendar year 2021 after COVID-19
has impacted co's operations
    ** Issue price represents a 7.1% discount to co's last close
    ** Including session gains, stock flat this year


($1 = 1.4930 New Zealand dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com; Twitter:
@deepalisaxenas;))