Australia Synertec Corporation jumps on placement

Synertec

13/09/2022 02:21

** Shares of Australia's Synertec Corporation  SOP.AX  rise
as much as 2.7% to A$0.19
    ** The engineering services co receives binding commitments
to raise A$5 million ($3.44 million)  urn:newsml:reuters.com:*:nASX1DXTlv
    ** Co says that placement will occur through an issue of
31.25 mln shares at a price of A$0.16 per share
    ** Adds that funds raised will be applied towards balance
sheet support of co's dual strategy of commercialising several
large near-term ESG-focussed technology opportunities in the
energy sector and to grow out a high-end engineering solutions
business
    ** Stock posts its biggest intraday pct gain since Aug. 30
    ** Stock has risen 134.1% this year, as of last close
    
($1 = 1.4520 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))