Trackwise Designs slumps on discounted share sale

Trackwise Designs

14/12/2022 15:08

** Shares of printed circuit board manufacturer Trackwise
Designs  TWD.L  plummet as much as 60% to 1.435p; top pct loser
across London stocks
    ** Co increases its placing, subscription to about 4.25 mln
pounds ($5.3 mln) from 3.7 mln pounds announced earlier on
Wednesday  urn:newsml:reuters.com:*:nTUC7T3B2X  urn:newsml:reuters.com:*:nTUC5KPVPV 
    ** Placing of 425 mln new ordinary shares and subscription
of 300,000 new ordinary shares at 1p per new ordinary share 
    ** Pricing represents a discount of about 70% to co's
Tuesday close of 3.33p 
    ** Stock set to post its worst day since Sept 14, if losses
hold 
    ** Co also announces open offer to raise up to additional
about 1.5 mln pounds 
    ** Including session's losses, stock down ~93% YTD 
     ($1 = 0.8074 pounds)
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))