Australia's Wellnex Life tumbles on discounted entitlement offer

Wellnex Life

10/02/2025 02:57

** Shares of Wellnex Life  WNX.AX  down 19.8% to A$0.73
    ** Stock falls as much as 23.1% earlier in the day, marking
its biggest intraday pct drop since April 16, 2024
    ** Health supplement manufacturer announces entitlement
offer to raise up to A$22.1 mln ($13.82 mln) at an issue price
of A$0.65/share  
    ** Offer price represents a 28.6% discount to stock's last
closing price
    ** Says funds raised will be used for redeeming convertible
notes among others
    ** More than 107,000 shares change hands, 3x the 30-day avg
    ** Stock gained 3% last month 

($1 = 1.5987 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))