Australia's Zeotech falls on discounted placement
26/06/2023 03:42
** Shares of Zeotech ZEO.AX fall as much as 17.2% to
A$0.048, set for their worst day since Oct 27, 2022, if trend
holds
** The mineral processing technology co says it has secured
firm commitments to raise A$3 mln ($2 mln) via placement to
advance its projects
** The issue price of $0.046 represents a 20.7% discount to
stock's last close on June 21
** ZEO stock at its lowest level since May 29
** Stock up 23.4% YTD, as of last close
($1 = 1.4963 Australian dollars)
(Reporting by Ayushman Ojha in Bengaluru)
((Ayushman.ojha@thomsonreuters.com;))