Australia's Sparc Technologies sinks to over four-month low on discounted placement
20/08/2026 05:14
BUZZ-Australia's Sparc Technologies sinks to over four-month low on discounted placement ** Shares of Australia's Sparc Technologies SPN.AX decline as much as 16.7% to A$0.175, hitting their lowest level since April 2
** Shares mark their biggest intraday pct drop since August 6
** Advanced materials and renewable energy tech co discloses share purchase plan and placement to raise up to A$2.5 million ($1.78 million) at $0.175 per share
** Offer price represents discount of 16.7% to last close on August 17 before going on trading halt
** Adds, will use proceeds to accelerate co's graphene additive rollout and sales, others
** Around 412,615 shares change hands, about 3.3x the 30-day average
** Stock last down 11.9% and flat YTD
($1 = 1.4051 Australian dollars)
(Reporting by Subhalakshmi Dey in Bengaluru)
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