Cuscal Limited (ASX:CCL) started trading on the Australian Securities Exchange after raising AU$336.8 million, according to a Monday filing with the Australian bourse.

The stock will trade on a conditional and deferred settlement basis, the filing said.

The capital raise consisted of 16 million shares issued at AU$2.50 each, along with the sale of about 118.7 million existing shares at the same price.

The payments and regulated data services provider's shares tumbled past 8% in recent Monday trade.

Price (AUD): $2.30, Change: $-0.21, Percent Change: -8.20%