Australia's Aumake slumps most in over a month on discounted placement

Xenitra

17/11/2021 02:52

** Shares of Aumake Ltd  AUK.AX  fall as much as 14.3% to
A$0.02, hitting their lowest since Sept. 22 
    ** The e-commerce market place operator says it secured
binding commitments of A$2.22 mln ($1.62 million) through
placement of 131 mln shares of co at A$0.017 per share
 urn:newsml:reuters.com:*:nASX2Hk6Cw
    ** Adds that the placement, which represents a discount of
15% to co's last closing price on Nov. 12, was strongly
supported by domestic and international institutional investors 
    ** Co says funds raised from placement will be used for
bringing structural changes to increase market share in the
Asian tourism sector of Australia and New Zealand 
    ** Stock posts its biggest intraday percentage fall since
Sept. 20
    ** Stock marks its busiest trading day since June 2020:
Around 9.8 mln shares change hands vs 30-day average of ~1.5 mln
shares
    ** Stock has fallen 68.2% this year, as of last close


($1 = 1.3727 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com))