Australia's Redflow falls on discounted placement

RedFlow

15/04/2024 02:01

** Shares of Redflow  RFX.AX  fall as much as 13.3% to
A$0.130, set for worst day since Sept 26, 2023, if losses hold 
    ** The energy storage solutions provider announces capital
raising of up to A$13.6 mln ($8.80 mln) via entitlement offer   
    ** Issue price of 11.5 Australian cents at a 23.3% discount
to stock's last closing price
    ** Funds to be used to scale up Thailand manufacturing
facility, among others - co
    ** Stock at lowest level since Jan 31
    ** About 1.3 mln shares change hands, compared with the
30-day average volume of 193,855     
    ** RFX up 7.1% YTD, as of last close
   
    ($1 = 1.5446 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))