Australia's Medibio hits over 17-mth low on discounted capital raise
15/12/2021 02:31
** Shares of Medibio Ltd MEB.AX slump 14.3% to A$0.006,
their lowest since July 8, 2020
** The health tech co says it is raising about A$5.7 mln
($4.05 mln) through placement and entitlement offer urn:newsml:reuters.com:*:nFWN2SZ17B
** Shares issue at A$0.005 is at a 28.57% discount to the
closing price, when it last traded on Dec 9
** MEB says the funds will be used for clinical trials and
establishing contact with a commercial partner to monitor
effects of pharmaceuticals in psychiatric patients
** Stock set for worst day since Oct. 5
** Stock has fallen 12.5% this year as of last close
($1 = 1.4069 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))