Australia's NIB Holdings drops most in 8-1/2 months on discounted placement

NIB Holdings

13/10/2022 24:49

** Shares of medical insurance firm NIB Holdings  NHF.AX 
drop as much as 7.3% to A$6.96 in their biggest intraday pct
loss since Jan. 31
    ** NHF says it raised A$135 mln ($84.70 mln) via placement
at final issue price of A$6.90 per share, a discount of 8.7% to
stock's closing price of A$7.51 on Tuesday, when it last traded
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    ** On Wednesday, NHF said it intended to raise A$135 mln via
placement, and additional A$15 mln through share purchase plan
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    ** NHF said it will acquire National Disability Insurance
Scheme (NDIS) plan manager Maple Plan
    ** NHF posted Q1 underlying operating profit of A$64.3 mln,
compared with A$63.8 mln reported last year  
    ** Stock hits lowest level since Aug. 15
    ** Stock up 7.1% this year, as of last close
($1 = 1.5939 Australian dollars)
 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))