Australia's HighCom hits eight-month low on discounted placement

Highcom

11/02/2026 03:16

** Shares of HighCom HCL.AX fall as much as 11.1% to A$0.2, their lowest level since June 11, 2025

** Marks steepest fall since January 14

** Defense firm receives firm commitments for A$7 million ($4.98 million) placement

** Issue price of A$0.020 represents a discount of 11.1% to the stock's last closing price

** Says proceeds will be used to support sales growth in key markets and associated product manufacturing

** About 464,000 shares change hands, 1.8 times the 30-day avg

** Down 25% YTD

($1 = 1.4047 Australian dollars)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))