Australia's Nexion Group at over 1-week low on discounted placement

Nexion

17/11/2021 24:16

** Cloud services provider Nexion Group Ltd  NNG.AX  fell as
much as 8.3% to A$0.165, its lowest level since Nov 9
    ** Co says it received commitments to raise A$2.75 mln
($2.01 mln) to be used for working capital requirements
 urn:newsml:reuters.com:*:nGLF2GgfCQ
    ** Issue price of A$0.16 per share represents a discount of
11.1% to co's last close on Nov 12
    ** Stock posts its biggest intraday percentage fall since
Nov 9
    ** More that 330,000 shares change hands, compared with the
30-day average volume of about 89,000
    ** Co was on a trading halt since Nov 15; Nexion stock down
28% since its debut in Feb

    ($1 = 1.3701 Australian dollars)
    

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))