Australia's Talga slumps most in nearly 4 months on discounted placement

Talga

07/10/2022 01:59

** Shares of Talga Group Ltd  TLG.AX  slide as much as 15.1%
to A$1.125, their biggest intraday pct drop since June 14
    ** The battery materials maker says it received firm
commitments to raise A$22 mln ($14.11 mln) via placement of 20
mln shares  urn:newsml:reuters.com:*:nASX2gpxJs
    ** Placement at issue price of A$1.10 represents a 17%
discount to co's last close price of A$1.325 on Oct 5
    ** Stock hits lowest level since July 18
    ** More than 640,000 shares change hands, vs the 30-day
average volume of ~334,000 shares
    ** Stock down 18.7% this year, as of last close
    ($1 = 1.5591 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))