Australia's MoneyMe hits record low on discounted placement
30/03/2023 04:39
** Shares of MoneyMe Ltd MME.AX slide as much as 19.1% to
a record low of A$0.085
** Stock of digital financial service co set for worst day
since Sept. 1, 2022, if losses hold
** Co announces a A$37 mln ($24.71 mln) fully underwritten
share placement at A$0.08 per share
** Issue price represents a 23.8% discount to stock's last
close of A$0.105 on March 20
** Co says proceeds from placement will be used to pay down
A$32m of group's corporate debt facility
** Stock down ~57% this year, as of last close
($1 = 1.4972 Australian dollars)
(Reporting by Ayushman Ojha in Bengaluru)
((Ayushman.ojha@thomsonreuters.com;))