Australia's Singular Health loses most in 10 months on discounted placement

Singular Health

14/02/2024 24:55

** Shares of Singular Health Group  SHG.AX  fall as much as
26.7% to A$0.110, their biggest intraday pct drop since April 4,
2023 
    ** Stock of the medical technology co hits its lowest level
since Feb 1
    ** Co receives firm commitments to raise about A$4.05 mln
($2.61 mln) via single tranche placement
    ** Co says placement at A$0.11 per share
    ** Adds that offer price is at a 26.7% discount to stock's
last closing price
    ** About 1.4 million shares change hands, compared with the
30-day average volume of 717,436 shares
    ** Singular stock up 294.7% this year, as of last close

   ($1 = 1.5506 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))