Australia's Jayex Healthcare rises; co completes placement of 25 mln shares

Jayex Technology

02/09/2020 05:32

** Shares of Jayex Healthcare  JHL.AX  surge as much as
36.7% to A$0.041, marking their biggest intraday percentage jump
since July 6
    ** The healthcare services platform operator says it
completed placement of 25 mln shares, raising a total of
A$700,000 ($514,500.00)  urn:newsml:reuters.com:*:nASX5xQXdb
    ** Offering size represents ~78% of co's free float -
Refinitiv data
    ** Issue price of 2.8 cents per share implies a 6.7%
discount to the closing price on Aug 28; co announced trading
halt on Aug. 31  urn:newsml:reuters.com:*:nFWN2FW03A
    ** Company says it is looking to expand via acquisition and
the funds raised will allow due diligence and assessment of
potential strategic acquisitions
    ** Funding also supports rollout of new products for its
Jayex Connect Platform
    ** Shares hit their highest level since July 23
    ** JHL flat this year, as of last close


($1 = 1.3605 Australian dollars)

 (Reporting by Deepali Saxena)
 ((Deepali.Saxena@thomsonreuters.com;))