Australia's Novatti Group set for worst day in 4-1/2-yrs on discount capital raise

Novatti

11/10/2024 02:14

** Shares of digital payments co Novatti Group  NOV.AX  fall
as much as 28.2% to A$0.042, marking their biggest intraday fall
since mid-March 2020
    ** Shares hit their lowest level since early-July
    ** Co to raise up to A$9.4 mln ($6.34 mln), comprising of an
entitlement offer and a placement
    ** Issue price of A$0.04 per share represents a 31.6%
discount to co's last closing price
    ** More than 2.4 mln shares change hands, over 6 times the
30-day avg of 375,149 shares
    ** As of last close, stock was down 29.5% YTD


($1 = 1.4832 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))