ASX-listed Way2Vat slides on discounted placement

Way 2 Vat

08/06/2022 04:04

** Australia-listed shares of Way2Vat  W2V.AX  slide as much
as 20.3% to A$0.047, their biggest intraday loss since April 1
    ** The Israel-based automated value-added tax (VAT) claim
solutions provider received commitments to raise A$1.09 mln
($787,700 mln) to accelerate commercialisation of its Smart
Spend Debit MasterCard  urn:newsml:reuters.com:*:nASX5Wnntr
    ** Issue price of A40.051 per shares represents a 13.6%
discount to W2V's last closing price
    ** Says it will also undertake a share purchase plan to
raise up to an additional A$500,000
    ** Shares hit their lowest since May 26
    ** As of last close, stock down 60.7% this year

     ($1 = 1.3837 Australian dollars)

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