Australia's ReNerve drops on discounted placement

Renerve

20/11/2025 03:21

** Shares of ReNerve RNV.AX fall as much as 29% to A$0.11, their lowest level since October 27

** Stock set for its weakest session ever, if current trends hold

** Medical device maker says firm commitments received to raise A$3.2 million ($2.07 million) at an issue price of A$0.12 per share

** Issue price at a 22.6% discount to the stock's last close

** Funds will be used for acceleration of the sales and marketing programmes for the co's product lines already on market, others

** About 3.9 mln shares traded, 6x the 30-day average

** YTD, stock down 34.3%, including current session's move

($1 = 1.5444 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))