Australia's Traffic Technologies at over 14-month low on $7.5 mln capital raise

Traffic Technologies

11/11/2021 01:26

** Shares of Traffic Technologies Ltd  TTI.AX  drop as much
as 10% to A$0.027, their lowest level since Aug 2020
    ** The traffic solutions provider to raise https://www.asx.com.au/asxpdf/20211111/pdf/452tw0pn4wyg0d.pdf
 A$10.13 mln  ($7.47 mln) via rights issue at A$0.03 cents per
share
    ** Co to issue 337.6 mln new shares, representing about 6.1%
of total shares on issue - Refinitiv Eikon
    ** Traffic Technologies stock posts its biggest intraday pct
loss since Oct 20 
    ** About 977,077 shares change hands, 1.6x their 30-day
average volume of 624,585 shares
    ** Stock down 21.1% this year, as of last close
    
    ($1 = 1.3563 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((dhriti.garg@thomsonreuters.com))