Australia's Scidev eyes worst session in a year on discounted placement

Scidev

02/11/2021 02:45

** Shares of wastewater treatment co Scidev Ltd  SDV.AX 
fall as much as 9.7% to A$0.650 in their biggest intraday pct
drop since September 2020
    ** Stock hits its lowest level since March 8, last down 8.3%
    ** Co announces capital raise of A$18 mln ($13.55 mln) to
fund existing acquisition payment, among other things
 urn:newsml:reuters.com:*:nASXNPfqY
    ** Issue price of A$0.65 represents a discount of 9.7% to
stock's last close on Oct. 28
    ** Issuance of 27.7 mln shares represents about 23.6% of
co's free float
    ** Co aims to undertake a separate share purchase plan to
raise A$2 mln at A$0.65/share
    ** More than 650,000 shares change hands in the busiest day
since Oct. 14, compared with the 30-day average of about 148,000
shares 
    ** Stock was on trading halt since Oct. 29; down 11.1% this
year, as of last close
    
($1 = 1.3286 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))