Australia's Peako hits over 2-1/2-year low on discounted capital raise

Peako

13/03/2023 01:30

** Shares of Peako Ltd  PKO.AX  fall as much as 20.8% to
A$0.0095, their lowest since July 07, 2020
    ** Mineral explorer announces 2-for-5 renounceable rights
issue to raise up to A$1.5 mln ($992,400.00) before costs
    ** Says new shares to be issued at A$0.01 per share
    ** Rights issue at a discount of 16.7% to stock's last close
    ** About 3.7 mln shares change hands, compared with the
30-day average trading volume of 531,498 shares 
    ** Shares down 17.2% YTD, as of last close 
   
($1 = 1.5115 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))