Australia's SRJ Technologies jumps most in over 2 mths on capital raise

SRJ Technologies

14/09/2023 04:06

** Shares of SRJ Technologies Group  SRJ.AX  jump as much as
18.3% to A$0.071, posting their biggest intraday pct gain since
July 3
    ** Weldless pipe solutions provider to raise up to A$1.2 mln
($771,360.00) of capital
    ** Issue price of A$0.07 per CHESS Depositary Interest (CDI)
at a 16.7% premium to last close on Sept. 11
    ** Says capital raising to repay all amounts under the
outstanding convertible notes held by Mercer Street Global
Opportunity Fund
    ** Shares hit their highest level since Aug. 18 
    ** SRJ stock down 40% YTD, as of last close 

($1 = 1.5557 Australian dollars)

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