Australia's Hydrix plunges on discounted placement

Hydrix

28/02/2022 05:24

** Shares of Hydrix Ltd  HYD.AX  drop as much as 12% to
A$0.110, their lowest since Aug. 17, 2020 
    ** Diversified product developer says it has completed a
share placement to raise A$2.82 mln ($2.02 mln)  urn:newsml:reuters.com:*:nFWN2V10C4
    ** Co says funds raised will be used to market development
of cardiac devices, grow client sales revenues and others
    ** Issue price of A$0.10 per share represents a 20% discount
to stock's last closing price on Feb. 24 
    ** Stock flat YTD
($1 = 1.3928 Australian dollars)

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