Australia's Stakk falls on discounted placement

Stakk

06/10/2025 01:44

** Shares of Australia's Stakk Ltd SKK.AX fall as much as 11.7% to A$0.053, posting their biggest intraday pct drop since September 23

** Banking solutions provider to raise A$15 million ($9.89 million) via placement at an issue price of A$0.045 per share

** Issue price at a discount of 25% to stock's last closing

** Funds to be predominantly used to expand co's SaaS-focussed business model in the U.S and Australia - SKK

** Stock has risen more than eight-fold in value so far this year

($1 = 1.5170 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))