Australia's Crowd Media Holdings hits 5-month low on discounted placement

Unith

30/05/2022 02:28

** Shares of Crowd Media Holdings Ltd  CM8.AX  fall as much
as 16.7% to A$0.03, hits lowest level since December 2021
    ** Artificial Intelligence co announces capital raise of
A$2.1 mln ($1.50 mln) to fund development of the Talking Head
technology, sales and marketing and working capital  urn:newsml:reuters.com:*:nASX4g6ggX
    ** Issue price of A$0.03 per share represents a discount of
over 16% to its last close on May 25, before it went on a
trading halt
    ** Stock marks worst session since November 2021, if losses
hold 
    ** More than 2.3 mln shares change hands, compared with the
30-day average volume of 942,000 shares
    ** Stock has risen 9.1% this year as of last close


($1 = 1.3959 Australian dollars)

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