Australia's Harvest Technology falls sharply on discounted placement

Harvest Technology

31/01/2024 03:17

** Shares of Australia's Harvest Technology Group  HTG.AX 
fall as much as 15% to A$0.017, marking their biggest intraday
pct drop since Dec. 4, 2023
    ** Remote operations services provider says it has received
commitments to raise A$1.59 mln ($1.04 mln) (before costs) via
placement
    ** Adds placement at an issue price of A$0.015 per share,
representing a discount of 25% to stock's last closing price
    ** Issue of 105.9 mln shares represents 0.27% of co's free
float of 389.2 mln shares - LSEG data
    ** About 1.5 mln shares change hands, vs the 30-day average
volume of 682,380 shares
    ** HTG stock up 26.7% so far this month

($1 = 1.5225 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))