Australia's Prophecy eyes worst day in over 1 week on discounted placement

Prophecy International Holdings

20/10/2021 05:34

** Shares of software developer  PRO.AX  fall as much as
4.3% to A$0.890, eyeing their worst day since Oct. 8
    ** Co completes tranche-one share placement of 9.5 mln
shares at A$0.81/share  urn:newsml:reuters.com:*:nASX5MLsLH
    ** Says funds to be used for co's business development team
expansion with key focus on current sales growth
    ** Issue price represents discount of 12.9% to their last
trading price on Oct. 18
    ** More than 850,000 shares traded vs their 30-day moving
avg of about 150,000 shares; busiest day since Oct 12
    ** PRO was on trading halt on Oct. 19; stock up 29.2% this
year, as of last close

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com))