Australia's Morella Corp hits record low on discounted placement

Morella

05/08/2024 01:34

** Shares of Morella Corp  1MC.AX  fall as much as 15.9% to
a record low of A$0.037 
    ** Stock posts its biggest intraday fall since July 8
    ** Battery mineral explorer says to raise about A$4.45 mln
($2.89 mln) at A$0.036 per share
    ** Issue price at an 18.2% discount to the last close 
    ** About 323,455 shares change hands, compared with the
30-day average volume of 176,743
    ** Stock has fallen 68% this year as of last close


($1 = 1.5408 Australian dollars)

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