Australia's Oncosil Medical falls on discounted placement

Oncosil Medical

28/10/2024 01:04

** Shares of Oncosil Medical  OSL.AX  fall as much as 26.9%
to A$0.01, their lowest since Aug. 12 
    ** Stock marks its weakest trading session since April 23 
    ** Medical device maker says it has commitments for a
placement of A$7 mln ($4.62 mln) at A$0.01 per share, and
proposes to undertake a share purchase plan to raise about A$1
mln at the same price 
    ** Offer price at a 23.1% discounts to its last close on
Oct. 23, before a trading halt was placed 
    ** About 32 mln shares change hands, compared with the
30-day average volume of 6.8 mln 
    ** Stock has risen 17.6% YTD

($1 = 1.5142 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))