Australia's Starpharma slumps to 1-1/2-month low on discounted fund raising

Starpharma Holdings

15/07/2026 02:17

** Shares of Starpharma SPL.AX fall as much as 13.9% to A$0.65, marking their lowest level since May 28
** Stock on track for its worst day since July 7, if losses hold
** The biotech firm to raise A$32 million ($22.35 million) via entitlement offer at issue price of A$0.57
** issue price at 24.5% discount to stock's last close
** About 2.3 million shares change hands, 2.1x the 30-day average of 1.1 million 
** YTD, stock up 104.2%, including moves in current session
     
     
($1 = 1.4318 Australian dollars)

(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))