Australia's Talga Group slumps on discounted placement

Talga

29/07/2024 03:04

** Shares of battery materials and technology firm Talga
Group  TLG.AX  fall as much as 21.2% to A$0.390
    ** TLG set for biggest one-day pct loss since March 2020;
hits lowest level since June 2020
    ** Co raises A$9.5 mln ($6.23 mln) at A$0.38 per share
    ** Issue price is at 23.2% discount to stock's last close
    ** Stock is down 36.9% this year, as of last close

($1 = 1.5246 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))