Australia's WhiteHawk falls most in more than 2 months on discounted capital raise

WhiteHawk

19/07/2023 02:24

** Shares of WhiteHawk Ltd  WHK.AX  fall as much as 13.2% to
A$0.033, posting their biggest intraday pct loss since May 5
    ** Online cybersecurity exchange co says it will take up a
non-renounceable rights issue of 1 fully paid ordinary share in
co's capital for every 6 shares to raise A$1.4 mln ($952,840.00)
    ** Issue price of A$0.032 per share is at a 15.8% discount
to last close on July 18
    ** Co says funds raised to be applied towards focused market
engagement, among others
    ** Shares hit their lowest level since July 12
    ** WHK stock down 42.4% YTD, as of last close 

($1 = 1.4693 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))