Australia's Universal Biosensors hits 4-1/2-month low on discounted placement

Universal Biosensors

21/04/2022 04:59

** Shares of Universal Biosensors Inc  UBI.AX  fall as much
as 2% to A$0.770, their lowest since Dec 6
    ** The medical diagnostics firm says it has raised A$6 mln 
($4.46 mln) via a share placement of new CHESS depository
interests (CDIs)  urn:newsml:reuters.com:*:nFWN2WI1NJ
    ** Co says it has agreed to issue 7.8 mln new CDIs under
placement 
    ** Issue price of A$0.77 per new CDI is at 2% discount to
the last closing price on April 14
    ** Shares set for worst day since April 7, if losses hold
    ** Stock down 20.7% this year, as of last close
    
    ($1 = 1.3468 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))