Australia's Iondrive climbs to 72-week high on premium placement

Iondrive

03/12/2024 24:45

** Shares of battery technology company Iondrive  ION.AX 
rise as much as 91.7% to A$0.023  
    ** Shares hit their highest levels since July 13, 2023
    ** Co completes A$6 mln ($3.88 mln) placement of 435,714,286
new shares 
    ** Shares offered at a 16.7% premium from stock's last close
    ** Co to use proceeds to build and operate a pilot plant for
the Deep Eutectic Solvent-based (DES) battery recycling
technology
    ** About 31,061,340 shares change hands, compared with the
30-day average volume of 1,084,283

   ($1 = 1.5468 Australian dollars)

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))