Australia's Rhinomed hits record low after delisting and capital raise announcement

Rhinomed

11/12/2023 02:48

** Shares of Rhinomed  RNO.AX  fall as much as 40% to
A$0.024, hitting their lowest level ever
    ** Stock currently down 30%, eyes worst day since July 5, if
losses hold
    ** Medical equipment co says it has formally applied to the
Australian Stock Exchange requesting removal around Feb. 16,
2024
    ** Co says it is also looking to raise around A$30,000
($19,665.00) at an issue price of A$0.04 per share
    ** Issue price same as last close
    ** More than 1.1 mln shares change hands, 16.2 times the
30-day average volume of 70,291 shares
    ** Stock down 65.2% YTD, as of last close

($1 = 1.5256 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))