Australia's Vection Technologies slips on discounted placement

Vection Technologies

29/09/2025 02:27

** Shares of Australia's Vection Technologies VR1.AX fall as much as 8.8% to A$0.062, their lowest point since September 19

** The software company raises A$21 million ($13.76 million) via placement at a price of A$0.06 per share

** Placement price represents a 14.3% discount to co's last close

**  Co says it executed a binding offer to acquire 100% of Digital Experience Labs Pty, a digital transformation and solutions business; adds immediate revenue and EBIT in Australia to Vection

** Deal includes upfront consideration of A$2.1 million in scrip

** Around 23.7 million shares change hands, nearly 1.1x 30-day average

** Vection stock last down 7.4%, paring YTD gains to 110%

($1 = 1.5258 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))