Australia's Invion slides on discounted placement

Invion

16/11/2021 01:33

** Shares of Invion Ltd  IVX.AX  fall as much as 11.1% to
A$0.024, their biggest intraday pct fall since Nov. 2
    ** Life-sciences firm to raise A$12 mln ($8.83 mln) through
the issue of 545.5 mln shares priced at 2.2 Australian cents per
share  urn:newsml:reuters.com:*:nASX5k6GZZ
    ** New shares represent 21.6% of co's free float, while the
issue price is a 18.5% discount to stock's last close on Nov. 11
after which its shares were halted
    ** Co also enters agreements with RMW Cho Group Ltd to
co-develop Photosoft technology for cancer and related diseases
    ** Stock at its lowest since Nov. 8
    ** Stock has more than doubled in value this year, as of
last close

($1 = 1.3592 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))