Australia's Sparc Technologies plunges on discounted placement

Sparc Technologies

01/05/2025 02:19

** Sparc Technologies SPN.AX plunges 16.7% to A$0.175; set for biggest one-day pct drop since January 10

** The graphene tech co announces capital raising of A$2.2 mln ($1.4 mln) at issue price of A$0.15, a 28.6% discount to last close

** About 358,892 shares traded, 5x the 30-day avg

** SPN gains 12.5% YTD

($1 = A$1.5605)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))