Australia's Titomic falls on discounted placement

Titomic

05/12/2022 01:02

** Shares of cold-spray additive manufacturer Titomic Ltd
 TTT.AX  fall as much as 15% to A$0.170, their lowest since Nov.
22
    ** Co to raise A$5.1 mln ($3.48 mln) through placement of
31.9 mln shares
    ** Issue price of A$0.16 per share represents a 20% discount
to stock's last close
    ** Co says funds from placement will be used to accelerate 
expansion of machine assembly operations and joint venture
activities
    ** Trading volumes 2.7 times the 30-day average of 81,715
shares
    ** As of last close, stock up 2.6% this year
($1 = 1.4674 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))