** Shares of Wellnex Life WNX.AX down 19.8% to A$0.73

** Stock falls as much as 23.1% earlier in the day, marking its biggest intraday pct drop since April 16, 2024

** Health supplement manufacturer announces entitlement offer to raise up to A$22.1 mln ($13.82 mln) at an issue price of A$0.65/share

** Offer price represents a 28.6% discount to stock's last closing price

** Says funds raised will be used for redeeming convertible notes among others

** More than 107,000 shares change hands, 3x the 30-day avg

** Stock gained 3% last month

($1 = 1.5987 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

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