Australia's Universal Biosensors jumps on placement proceeds

Universal Biosensors

27/05/2022 05:39

** Shares of the medical diagnostics firm  UBI.AX  jump as
much as 10.7% to A$0.470, post their biggest intraday pct gain
since May 18 
    ** Co receives net proceeds of A$25.2 mln ($18.00 mln) from
recent entitlement offer and institutional placement
 urn:newsml:reuters.com:*:nASX7LZGK7
    ** Says funds will be used for building co's portfolio,
among others 
    ** Stock down 57.6% this year, as of last close, vs a 3.5%
decline in the benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.4002 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))