Australia's Micro-X hits nearly 2-month low on discounted placement

Micro-X

10/02/2025 02:35

** Shares Micro-X  MX1.AX  fall 8.2% to A$0.071, their
lowest level since December 16
    ** Shares of co set for four sessions of consecutive gains -
if current trends hold
    ** Medical equipment maker says it has raised A$3.3 mln 
($2.06 mln) from institutional placement and entitlement offer
    ** Offer at an issue price A$0.07/shr represents a 9.1%
discount as of the last trading day
    ** Says funds are to be used for focusing on medical imaging
products, others
    ** Stock fell as much as 9% earlier in the day, marking its
worst intraday drop since October 29, 2024
    ** Stock last month fell by 7.1%


($1 = 1.5987 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))