Australia's Medibio jumps most in 4 weeks on premium placement

TrivarX

15/02/2023 03:03

** Shares of Medibio Ltd  MEB.AX  jump as much as 50% to
A$0.0015, posting their biggest intraday pct gain since Jan. 18
    ** The health tech co says commitments received for a
A$1.245 million ($868,636.50) placement
    ** Also intends to raise up to A$1.5 million through a share
purchase plan (SPP)
    ** Issue price of 0.15 AU cents for both is at a 50% premium
to last close on Feb 10
    ** Also offering one free attaching option for every two new
shares subscribed under placement and SPP
    ** Says funds raised to be used to progress co's FDA
application and working capital
    ** Shares touch their highest level since Jan. 23
    ** Volumes are 14x the 30-day average of about 2 mln shares
    ** Stock has fallen 50% this year, as of last close
    ($1 = 1.4333 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))