Australia's Traffic Technologies Ltd eyes worst day in 4 years on share purchase plan

Traffic Technologies

21/03/2024 04:30

** Traffic Technologies'  TTI.AX  shares fall as much as 25%
to A$0.006, posts biggest intraday pct fall since March 23, 2020
    ** Stock at its lowest since March 12
    ** Company, which provides technology and services for
managing traffic, says it is launching share purchase plan for
existing eligible shareholders at A$0.0062 apiece
    ** New shares to be offered at 22.5% discount to TTI's last
close
    ** About 4.2 mln shares change hands, 10x 30-day avg volume
- LSEG
    ** Stock down 20% YTD, as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))