Australia's Sensen Networks falls most in a week on discounted placement

Sensen Networks

11/10/2023 05:08

** Shares of Australian sensor artificial intelligence
solutions provider Sensen Networks  SNS.AX  fall as much as 4.2%
to A$0.046, marking its biggest intraday pct fall since Oct. 4
    ** Co announces entitlement offer of A$2.09 million ($1.34
million) of new shares
    ** To issue 52.4 mln new shares, representing 18.61% of SNS
free float of 281.7 mln shares
    ** Issue price of A$0.04 per share, representing a 16.7%
discount to stock's last closing
    ** Stock down 7.7% YTD, as of last close


($1 = 1.5571 Australian dollars)

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