Australia's Kalina Power jumps on premium entitlement offer

Kalina Power

22/03/2024 24:34

** Shares of Australia's Kalina Power  KPO.AX  rise as much
as 33.3% to A$0.004, marking their biggest intraday pct gain
since Feb. 9
    ** Clean-tech co proposes A$1.1 mln ($722,700.00) fully
underwritten entitlement offer
    ** Says new shares to be issued at A$0.004, representing a
premium of 33.3% to stock's last closing
    ** Issue of 276.3 mln shares represents 0.2% of co's free
float of 1.25 bln shares - LSEG data
    ** About 2 mln shares change hands by 0014 GMT, vs 30-day
average volume of 1.8 mln shares
    ** Stock down 25% YTD, as of last close

($1 = 1.5221 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))