Australia's Retail Food set for worst day in 8 months on discounted placement

Retail Food

03/03/2023 24:53

** Shares of Retail Food Group Ltd  RFG.AX  plunge as much
as 8.2% to A$0.078, on track for worst day since June 22, if
trend holds 
    ** The food retailer says to raise A$24.9 mln ($16.78 mln)
via share placement 
    ** The placement price of A$0.08 per share represents a
discount of 12.5% discount to the co's last closing price of
A$0.09
    ** Stock hits lowest since Dec 30
    ** More than 12.2 mln shares change hands, almost twice the
30-day average volume 
    ** Stock up 6.3% this year, as of last close

    ($1 = 1.4843 Australian dollars)
    

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))