Australia's xReality Group falls most in about 2 months on discounted capital raising

Xreality

18/10/2023 02:22

** Shares of xReality Group  XRG.AX  slip as much as 11.1%
to A$0.040, posting their biggest intraday pct loss since Aug 23
    ** Virtual reality co says it has launched a capital raising
to raise up to A$3.65 mln ($2.32 mln)
    ** Issue price of A$0.035 per share is at a 22.2% discount
to last close on Oct. 13 
    ** Says funds raised will be used to expedite the sales of
Operator XR Military and Law Enforcement technology in the U.S.
market
    ** Shares hit their lowest level since Oct 10 
    ** About 1 mln shares change hands vs the 30-day average of
132,693 shares 
    ** XRG stock down 21.1% YTD, as of last close  
    
($1 = 1.5731 Australian dollars)

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