Australia's TZ Ltd marks worst day in over 6 months on discounted capital raise

TZ

09/11/2021 01:30

** Shares of smart electronic locking devices maker  TZL.AX 
fall as much as 20% to A$0.140, mark their worst intraday
session since April 28
    ** TZ Ltd announces capital raising of A$3.5 million ($2.59
million) to cover remaining debt and fund general working
capital  urn:newsml:reuters.com:*:nASXbvG6bP
    ** Issue price of A$0.125 represents a discount of 28.6% to
stock's last close on Nov 4
    ** Co issues 27.57 mln new shares representing about 20.9%
of their free float
    ** Stock posts its biggest intraday percentage fall since
Oct 29
    ** More than 1.1 mln shares change hands, compared with the
30-day average volume of about 464,000 shares
    ** TZL was on a trading halt since Nov 5; stock up 90.2%
this year, since the last close

    ($1 = 1.3517 Australian dollars)
    

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))