Australia's Kalina Power set for worst day in over 3 months on discounted placement

Kalina Power

19/10/2021 01:45

** Shares of Kalina Power Ltd  KPO.AX  drop as much as 12.1%
to A$0.029, on course for their worst session since July 9
    ** The power generation services provider says to raise A$10
mln ($7.42 mln) via an oversubscribed placement 
    ** Issue price of A$0.027/share represents discount of 18.2%
to the stock's closing price on Oct. 8, when it last traded 
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    ** Separately, co says its Canadian unit received approval
to construct and operate the Saddle Hills project in Alberta
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    ** Stock hits its lowest since Oct. 6
    ** About 2.7 mln shares change hands, vs the 30-day average
volume of ~992,000 shares
    ** KPO stock down 13.2% this year, as of last close

($1 = 1.3481 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))