NZ's Rua Bioscience falls to over three-month low on discounted capital raising

Rua Bioscience

03/11/2025 03:59

** Shares of Rua Bioscience Ltd RUA.NZ fall 11.4% to NZ$0.031, its biggest intraday pct loss since December 18, 2024, if current trends hold

** Stock marks its lowest level since July 14

** Medical cannabis firm to raise up to NZ$2 million  ($1.15 million) via 1 for 3 renounceable pro-rata rights offer

** Issue price of NZ$0.025 per share represents a 28.6% discount to the stock's last close

** Funds to be used for product development and expansion in Germany, Australia, UK and Czechia

** About 253,263 shares traded, 1.4x the 30-day average volume

** YTD,  stock up 6.9%, including current session's move

($1 = 1.7443 New Zealand dollars)

 (Reporting by Ananya Verma in Bengaluru)

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