Australia's Mighty Craft falls most in about 3 years on discounted placement

Mighty Craft

23/03/2023 01:28

** Shares of Mighty Craft Ltd  MCL.AX  fall as much as 16.7%
to A$0.150, posting their biggest intraday pct loss since June
22, 2020
    ** Craft drinks co says it has received firm commitments to
raise A$5.2 mln ($3.49 mln) via a placement 
    ** Issue price of 14.5 AU cents per share represents a 19.4%
discount to stock's last close on March 17
    ** Shares hit their lowest level since Oct 24
    ** Stock up ~8% YTD, as of last close
    
($1 = 1.4899 Australian dollars)

 (Reporting by Echha Jain and Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))