Australia's Top Shelf hits record low on discounted share placement

Top Shelf International Holdings

29/05/2023 03:17

** Shares of Australia's Top Shelf International Holdings
Ltd  TSI.AX  fall as much as 15.1% to a record low of A$0.225 
    ** Stock set to mark its worst day since May 19, if losses
hold   
    ** The spirit maker announces capital raising to raise up to
A$40 mln ($27.13 mln) at an offer price of A$0.25 per new share
    ** Offer price is a 5.7% discount to the last close of co  
    ** Adds proceeds will be used to repay a portion of co's
senior secured loan facility with longreach, among others       
    ** TSI stock down 78.7% this year, as of last close

    ($1 = 1.4743 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))