Australia's Unith loses most in nearly 3 years after discounted placement

Unith

05/02/2024 24:36

** Shares of Australia's Unith  UNT.AX  fall as much as 20%
to A$0.016, their biggest intraday pct loss since Feb 17, 2021
    ** Stock hits lowest level since Jan 24
    ** The software firm says it will raise A$4.5 mln ($2.93
mln) via placement and entitlements offer  
    ** The offer price will be A$0.0145 per share, representing
a discount of 37.9% to co's last closing price of A$0.02 on Jan
31   
    ** More than 3.5 mln shares change hands, twice the 30-day
average volume 
    ** Unith stock down 4.8% this year, as of last close


    ($1 = 1.5382 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))