New Zealand Coastal Seafoods falls on discounted placement

New Zealand Coastal Seafoods

07/09/2020 06:28

** New Zealand Coastal Seafoods  NZS.AX  falls as much as
17% to NZ$0.044, marking its biggest intraday pct fall since
July 30
    ** The seafood producer says it is planning to raise NZ$3.0
mln ($2.01 mln) from a share purchase plan and an additional
NZ$2.0 mln from a placement
    ** Co says issue price for the purchase plan will be at a
15% discount to its five-day volume weighted average price
    ** Stock hits its highest level since Aug 10
    ** About 9.9 mln shares change hands, compared with the
30-day average volume of 21.2 mln
    ** Stock up almost five-fold this year, as of last close

    ($1 = 1.4914 New Zealand dollars)

 (Reporting by Yamini C S in Bengaluru)
 ((Yamini.CS@thomsonreuters.com;))