Australia's Nanoveu falls on discounted placement

Nanoveu

26/04/2023 06:15

** Shares of Nanoveu Ltd  NVU.AX  dip as much as 9.1% to
A$0.030
    ** Co says it has completed a placement of about 48.1 mln
fully paid ordinary shares to raise A$1.25 mln ($826,000.00)
    ** Issue price of A$0.026 per share is at a 21.2% discount
to last close on April 20
    ** Says funds raised to be used to accelerate
commercialisation of Nanoshield Solar and Marine products
    ** Shares hit their lowest level since April 19
    ** Stock up 266.7% this year, as of last close

($1 = 1.5133 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))