Australia's RLF AgTech falls most in 3-1/2 months on discounted placement

RLF AgTech

17/12/2024 01:23

** Shares of Australia's RLF AgTech  RLF.AX  fall as much as
14.3% to A$0.042, posting their biggest intraday pct drop since
Sept. 3
    ** Stock hits its lowest level since Nov. 25
    ** Plant nutrition co announces A$1.05 mln ($668,430.00)
placement at an issue price of A$0.03 per share
    ** Issue price represents a discount of 38.8% to stock's
last closing
    ** Funds to be used for expansion of existing manufacturing
facilities and raw materials costs, among others - co
    ** Stock has fallen 61.8% this year, as of 0118 GMT

($1 = 1.5708 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))