Australia's K-Tig marks worst day in 3 weeks on discounted placement

Metal Powder Works

15/02/2022 01:01

** Shares of welding technology maker  KTG.AX  drop as much
as 8% to A$0.345, set for worst session since Jan. 25
    ** Co announces capital raise of A$4 mln ($2.85 mln) via
private placement to fund growth strategy in nuclear and defense
markets, among others  urn:newsml:reuters.com:*:nASX3n7D1h
    ** Says placement completed at issue price of A$0.35/share,
representing a discount of 6.7% to its last close on Feb. 11
    ** Stock hits lowest since Feb. 4
    ** More than 263,000 shares change hands, compared with the
30-day average volume of about 190,000 shares
    ** Stock was on a trading halt since Feb. 11; up 21% this
year, as of last close

($1 = 1.4023 Australian dollars)

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