Australia's Nova Eye Medical faces worst day in 3 months on discounted placement

Nova Eye Medical

14/02/2024 04:43

** Shares of Nova Eye Medical  EYE.AX  fall as much as 23.6%
to A$0.210, hitting their lowest level since Dec. 28, 2023
    ** Stock currently down 19.8%, faces worst day since Nov.
14, 2023, if losses hold
    ** Medical technology co completes placement and
institutional entitlement offer of A$5.1 mln ($3.29 mln) at
issue price of A$0.21 per share
    ** Issue price represents a discount of 21.6% to last close
    ** Co says fully underwritten retail entitlement offer for a
further A$2.9 mln to open from Feb. 19
    ** Stock has risen 14.6% this year, as of last close
    
    
($1 = 1.5482 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))