Australia's Spenda hits 5-week low on discounted share placement

Spenda

13/06/2023 02:15

** Shares of Australia's Spenda Ltd  SPX.AX  fall as much as
9.1% to A$0.010, hitting their lowest since May 8
    ** Stock set to mark worst day since May 29, if current
losses hold 
    ** B2B payment services firm announces private placement to
raise A$3.9 mln ($2.63 mln) at an issue price of A$0.009 per
share
    ** Issue price at a discount of 22.2% to stock's last close 
    ** Stock almost flat this year, as of last close

($1 = 1.4824 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))