Australia's Imagion at 2-1/2-year low on discounted capital raise

Imagion Biosystems

07/03/2023 01:00

** Shares of Imagion Biosystems Ltd  IBX.AX  fall as much as
18.2% to A$0.018, their lowest since May 8, 2020
    ** The medical imaging co announces a pro rata
non-renounceable entitlement offer to raise A$2.4 mln ($1.62
mln)
    ** Says capital raise through offering 1 new fully paid
ordinary shares in co for every 8 shares held by eligible
shareholders 
    **  Offer is at an issue price of A$0.017 per share, which
is at a discount of 22.7% to stock's last close 
    ** Co sees biggest intraday fall since April 29, 2021
    ** About 6.2 mln shares change hand, compared with 30-day
average trading volume of 2.3 shares 
    ** Shares of Imagion down 8.3% YTD as of last close 
   
    ($1 = 1.4857 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))