** Shares of Nanollose Ltd fall as much as 36.7% to A$0.019, their lowest levels since Dec 2

** The biomaterials co to raise A$672,000 ($427,056) via placement

** Issue price of A$0.016 represents a discount of 46.7% to the co's last close on Dec 11

** Co says funds raised will be deployed towards continuing its research and development projects in fabric and fibres, among others

** Stock has risen 36.4% this year, as of last close

($1 = 1.5736 Australian dollars)

(Reporting by Namrata Verma in Bengaluru)

((namrata.verma@thomsonreuters.com))