Australia's Propell Holdings falls on discounted placement

Propell Holdings

13/04/2022 03:28

** Shares of Propell Holdings Ltd  PHL.AX  fall as much as
3.8% to A$0.076, their biggest intraday pct loss since March 31
    ** The small- and medium-enterprises-focused fintech says it
has received subscriptions for placement to raise about A$1.36
mln ($1.02 mln)  urn:newsml:reuters.com:*:nASM0007KS
    ** Co says funds raised will be used to increase its lending
facility and also build working capital
    ** Issue price of A$0.058 per share is at a 26.6% discount
to the last closing price on April 8
    ** Stock down 12.2% this year, as of last close

    ($1 = 1.3394 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))