Australia's Halo Foods hits record low on discounted placement
15/02/2022 02:27
** Shares of dairy products maker Halo Food Co Ltd HLF.AX
fall as much as 23.1% to an all-time low of A$0.1
** Co signs agreement to acquire health and wellness
business The Healthy Mummy for A$17 mln ($12.12 mln)
urn:newsml:reuters.com:*:nASX7cMrVd
** Says it will fund acquisition by an equity raising, which
comprises a A$3.5 mln placement and a A$3.0 mln share purchase
plan, and a A$13 mln new debt facility
** Fixes issue price for placement at A$0.1 per share,
representing a 23.1% discount to last closing price
** Shares post their worst intraday percentage fall since
March 13, 2020
** At about 5.3 mln shares, volumes 9.6 times the 30-day
average of 547,143 shares
** As of last close, stock up 13% this year
($1 = 1.4025 Australian dollars)
(Reporting by Himanshi Akhand in Bengaluru)
((Himanshi.Akhand@thomsonreuters.com;))