Tiger Brokers

BUZZ-Australia's Control Bionics drops on discounted placement

Reuters
Sep 23, 2024

** Shares of Control Bionics fall as much as 4% to A$0.073, their lowest levels since Aug 15

** Stock set to log its worst day since mid-Sept, if current trend holds

** The medical device manufacturer says it will raise A$1.15 mln ($783,495.00) via a share placement of 16.4 mln shares

** Placement at an issue price of A$0.07, a roughly 8% discount to last trading price on Sept 18

** Co says funds will be used for product software development, among others

** Newly issued shares represent ~23% of CBL's free float of 69.6 mln shares, according to LSEG data

** Including day's moves, CBL stock up 58.7% YTD

($1 = 1.4678 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10