Australia's Viva Leisure falls on discounted placement

Viva Leisure

07/06/2024 03:52

** Shares of health club owner Viva Leisure  VVA.AX  drop as
much as 5.1% to A$1.48, their lowest since May 30
    ** Co raises A$16 mln ($10.67 mln) via placement at A$1.45
per share
    ** Issue price represents a 7.1% discount to VVA's last
closing price
    ** Co says proceeds will be used to finance acquisitions of
8 health club locations in Western Australia, and for other
working capital purposes
    ** As of last close, stock up 2.3% YTD
($1 = 1.4997 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))