Australia's Linius Technologies drops on share placement

ION Video

29/04/2022 04:24

** Technology products developer's shares  LNU.AX  fall as
much as 8.3% to A$0.11
    ** Company says it received firm commitments to raise A$2
mln ($1.42 mln) through placement of 200 mln fully paid shares
 urn:newsml:reuters.com:*:nFWN2WQ2UV
    ** Issue price of A$0.01 represents a discount of 8.3% to
Tuesday's last traded price, after which shares went into
trading halt
    ** Trading volumes are ~2.2x 30-day avg of 2.8 mln shares
    ** Stock down 40% so far this year, as of last close 

 ($1 = 1.4039 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))