Australia's Income Asset Management hits over 2-week low on discounted placement

Income Asset Management

30/10/2023 24:35

** Shares of Income Asset Management Group  IAM.AX  fall as
much as 12.5% to A$0.105, their lowest level since Oct. 12
    ** Australian income investment service provider says
received commitments for a placement to raise A$4 mln ($2.54
mln)
    ** Issue price of A$0.08 per share represents a discount of
33.3% to stock's last closing
    ** Issue of 50 mln shares represents ~0.4% of co's free
float of 141.6 mln shares - LSEG data
    ** Stock down 20% YTD, as of last close

($1 = 1.5773 Australian dollars)

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