Australia's Jayride Group drops after share placement

Jayride

17/06/2021 04:05

** Online travel marketplace's shares  JAY.AX  fall as much
as 12.7% to A$0.24, lowest since June 8
    ** Company says it undertook a placement of 47.6 mln shares
at A$0.21/shr to raise A$10 mln ($7.62 mln)  urn:newsml:reuters.com:*:nASN001C3G
    ** Placement price at 23.6% discount to company's last close
price of A$0.275
    ** Deal size represents about 72% of company's ~65.62 mln
shares of free float - Refinitiv data
    ** Company also announces share purchase plan to raise up to
A$1 mln on same terms as the placement
    ** Stock posts biggest intraday pct fall since May 14
    ** About 227,000 shares change hands vs 30-day avg of about
67,000 shares
    ** Stock up 89.7% this year, as of last close

 ($1 = 1.3116 Australian dollars)

 (Reporting by Soumyajit Saha in Bengaluru)
 ((Soumyajit.Saha@thomsonreuters.com))