Australia's Oncosil Medical falls on discounted placement

Oncosil Medical

20/03/2024 02:02

** Shares of Oncosil Medical  OSL.AX  fall as much as 18.8%
to A$0.007, hitting their worst level since Feb 6
    ** The biotechnology co receives commitments to raise A$1.48
million ($966,588) at an issue price of A$0.005 per new share
    ** Co says offer price at a discount of 37.5% to stock's
last closing price
    ** Adds co is undertaking entitlement offer to raise up to
about A$5.65 million
    ** About 5.6 mln shares change hands, compared with the
30-day average volume of 2.3 mln shares
    ** Stock on track for worst day since Feb 26, if current
trends hold
    ** Stock has fallen 11.1% this year, as of last close
    
     
($1 = 1.5312 Australian dollars)

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