Australia's SRG Global hits lowest in nearly two weeks on discounted placement

SRG Global

17/02/2023 24:32

** Shares of SRG Global  SRG.AX  slip as much as 2.7% to
A$0.735, hitting their lowest since Feb 6 
    ** Industrial services firm says completed A$46.4 mln
($31.84 mln) capital raise via placement 
    ** Says proceeds will be used to partially fund acquisition
of ALS Industrial Pty Ltd
    ** Issue price of A$0.72 per share at a 4.6% discount to
last close on Feb 15 
    ** Shares see worst day since Feb 8, if current losses hold 
    ** Stock had risen 9.4% this year, as of last close
($1 = 1.4571 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))