Australia's Hancock & Gore hits over one-yr low on discounted placement

Schoolblazer

05/09/2024 04:33

** Shares of Australia's Hancock & Gore  HNG.AX  fall as
much as 9.4% to A$0.290, its lowest level since late-Aug 2023
    ** Stock posts its biggest intraday pct fall since June 6
    ** The investment co to raise A$18.5 mln ($12.44 mln) via
placement at issue price of A$0.30 per share
    ** Issue price at a discount of 6.3% to stock's last closing
    ** Placement proceeds to satisfy upfront cash consideration
for acquisition of United Kingdom-based Schoolblazer Ltd
    ** Near 264,000 shares change hands as of 0331 GMT, vs
30-day average volume of 86,983
    ** Stock down 25.6% YTD, as of last close


($1 = 1.4874 Australian dollars)

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