Digital Wine Ventures falls on discounted placement to buy Kaddy Australia

Kaddy

15/10/2021 03:53

** Shares of Australian wine distributor  DW8.AX  fall as
much as 9.1% to A$0.060, their lowest since Sept. 21 
    ** Co says it will raise A$14.75 mln via placement and share
purchase plan at A$0.056 per share to fund acquisition of
business-to-business beverage marketplace co Kaddy Australia
Pty urn:newsml:reuters.com:*:nFWN2RA1OO
    ** Issue price represents 15.2% discount to stock's closing
price of 6.6 Australian cents on Oct. 12, when it last traded
    ** Says deal includes consideration of A$6.75 mln ($5.01
mln) in cash and about 484.9 mln in shares of co
    ** More than 18 mln shares change hands, vs their 30-day
moving avg of about 5.3 mln shares
    ** Stock sees its busiest trading session since July 27 
    ** DW8 up 53.5% YTD, as of last close

($1 = 1.3483 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com))