Australia's Forbidden Foods jumps on premium placement; eyes best week ever

OMG

12/04/2024 03:50

** Shares of Forbidden Foods  FFF.AX  rise as much as 5.9%
to A$0.018, highest since Jan. 3
    ** Stock on track for its best week ever, rising 50% so far
    ** Multi-brand food firm receives commitments to raise A$0.6
mln ($392,340) in a placement
    ** Co says placement at issue price of A$0.018 per share, a
5.9% premium to stock's last close
    ** About 1.8 mln shares change hands, compared with the
30-day average volume of 295,066
    ** Stock up about 6% this year, as of last close

($1 = 1.5293 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))