Australia's Harvest Technology sees best day since July on share placement

Harvest Technology

28/02/2022 03:12

** Shares of Harvest Technology Group  HTG.AX  surge as much
as 16.7% to A$0.174, seeing its best day since July 1
    ** The electronic parts maker says it has received binding
commitments to raise A$6.78 million ($4.87 million) through a
share placement  urn:newsml:reuters.com:*:nFWN2V10C5
    ** Issue price of A$0.15 per share is not at any discount to
the previous price on Feb. 23, when it finished at the same
level
    ** Adds that funds raised will be used to quicken co's
global growth strategy including boosting additional resources
and expansion of business development initiatives in the UK and
North America regions
    ** Stock hits highest since Feb 21
    ** Stock has fallen 26.8% this year, as of last close

($1 = 1.3930 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))