Australia's Synertec Corporation slumps on discounted placement
17/08/2026 04:36
BUZZ-Australia's Synertec Corporation slumps on discounted placement ** Shares of Australia's Synertec Corporation SOP.AX fall as much as 13.8% to A$0.05, marking their biggest intraday pct drop since May 11
** Shares hit their lowest level since July 29
** Tech design and development firm discloses about A$6 million ($4.25 million) placement at A$0.05 per share, a 13.8% discount to last close on Aug 13
** Co adds that proceeds will be used for working capital among other purposes
** SOP reaffirms FY27 revenue forecast
** Stock up 155% this year, including session's moves
($1 = 1.4102 Australian dollars)
(Reporting by Subhalakshmi Dey in Bengaluru)
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