Australia's Nanollose falls on discounted placement

Nanollose

13/12/2024 02:42

** Shares of Nanollose Ltd  NC6.AX  fall as much as 36.7% to
A$0.019, their lowest levels since Dec 2
    ** The biomaterials co to raise A$672,000 ($427,056) via
placement
    ** Issue price of A$0.016 represents a discount of 46.7% to
the co's last close on Dec 11
    ** Co says funds raised will be deployed towards continuing
its research and development projects in fabric and fibres,
among others
    ** Stock has risen 36.4% this year, as of last close

    ($1 = 1.5736 Australian dollars)

 (Reporting by Namrata Verma in Bengaluru)
 ((namrata.verma@thomsonreuters.com))