Australia's Melodiol Global Health hits record low on discounted capital raise

Melodiol Global Health

13/11/2023 04:09

** Shares of Melodiol Global Health  ME1.AX  fall as much as
33.3% to an all-time low of A$0.0020
    ** Stock posts its biggest intraday percentage fall since
Oct. 26
    ** Cannabis co says it will raise about A$1 mln
($635,900.00) at an issue price of A$0.002904 per share
    ** Issue price represents a 3.2% discount on co's last close
    ** Nearly 105.2 mln shares change hands, compared with the
30-day average volume of about 24.3 mln - LSEG data
    ** Stock down 85% YTD, based on last close

($1 = 1.5726 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))