Australia's Weebit Nano slumps 16% on discounted placement

Weebit Nano

27/03/2026 01:24

** Shares of Australia's Weebit Nano WBT.AX fall as much as 16.3% to A$3.8, their biggest drop since late June 2023

** Memory technology developer raises A$80 million ($54.99 million) via placement at an issue price of A$4.05 per share

** Issue price represents nearly 10.8% discount to co's last closing price

** The company also completes a non-underwritten placement raising A$7 million

** Around 2 million shares change hands, nearly 2.2x 30-day average

** WBT down 23.1% YTD

($1 = 1.4548 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))