Australia's Neurotech falls most in over 2 years on discounted placement

Neurotech International

28/10/2022 24:55

** Shares of Australia's Neurotech International  NTI.AX 
fall as much 26.9% to A$0.095, set to lose most since May 2020
    ** The medical device and solutions company receives binding
commitments for an A$9 million ($5.81 million) placement
 urn:newsml:reuters.com:*:nASX4F0NY8
    ** Says placement of 90 mln nre fully paid ordinary shares
at an issue price of A$0.10 per share, which is at a discount of
23.1% to co's last close
    ** Says funds raised under placement will be applied to co's
paediatric clinical trials program, among others
    ** Stock hits its lowest since Oct 5
    ** More than 2.2 mln shares change hands, compared with the
30-day average volume of 683,872 shares
    ** Stock has risen 116.7% this year as of last close
($1 = 1.5494 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))