Australia's MoneyMe posts record loss on discounted placement, SPP

Moneyme

01/09/2022 04:21

** Shares of digital financial services co MoneyMe  MME.AX 
fall as much as 26% to A$0.51, eyeing their worst session till
date
    ** MME says it has completed a placement of about 40 million
shares to raise A$20 mln  urn:newsml:reuters.com:*:nASX5MMsSh
    ** Issue price of A$0.50 per new share represents a 28%
discount to the last closing price of A$0.69 on Aug. 29, after
which the shares went on a trading halt
    ** Co further intends to make available a non-underwritten
share purchase plan (SPP) at the same issue price capped at
A$1.2 mln 
    ** Shares hit their lowest levels since March 24, 2020
    ** Around 1.9 million shares change hands, compared with the
30-day average volume of about 216,000 shares
    ** Stock down ~69% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))