Australia's Kalina Power falls on discounted capital raise

Kalina Power

27/09/2024 04:00

** Shares of Kalina Power  KPO.AX  tank as much as 18.8% to
A$0.013, set for their worst day since Aug 28, if current trend
holds 
    ** The clean tech co announces raising of ~A$1.03 mln 
($708,228) via fully underwritten non-renounceable entitlement
and ~A$1.5 mln via placement
    ** Entitlement offer and placement issue price at A$0.01,
representing a 37.5% discount to stock's last close on Sept 24
    ** About 11.8 mln shares change hands, 3.1x the 30-day avg
    ** Kalina Power stock up more than triplefold on YTD basis 

   ($1 = 1.4543 Australian dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))