Australia’s RemSense Technologies hits record low after entitlement offer

RemSense Technologies

22/11/2023 03:30

** Shares of RemSense Technologies  REM.AX  fall as much as
37.5% to a record low of A$0.025 
    ** Stock snaps three consecutive session of gains; posts its
biggest intraday fall since Nov. 6
    ** Tech development firm says co will raise A$2.1 million 
($1.4 million) through a 1:1 pro-rata entitlement offer
    ** Adds, entitlement at an issue price of A$0.02 per share,
a 50% discount to stock's last close 
    ** More than 351,000 shares change hands, versus the 30-day
average volume of 92,099
    ** Stock down ~77% this year, as of last close


($1 = 1.5366 Australian dollars)

 (Reporting by Neha Soni)
 ((Neha.Soni@thomsonreuters.com;))