Australia's Sparc falls most in more than a month on discounted placement

Sparc Technologies

22/04/2024 02:58

** Shares of Sparc Technologies  SPN.AX  slip as much as
8.9% to A$0.255, posting their biggest intraday pct loss since
March 12 
    ** The graphene tech co says it has received firm
commitments to raise A$2.25 mln ($1.45 mln)
    ** Issue price of A$0.22 per share is at a 21.4% discount to
last close on April 17 
    ** Says funds raised will be used to support co's investment
in Sparc Hydrogen, among others
    ** Shares hit their lowest level since April 9 
    ** Stock up 5.7% YTD, as of last close 

($1 = 1.5513 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))