Tiger Brokers

BUZZ-Australia's Oncosil Medical falls on discounted placement

Reuters
Oct 28, 2024

** Shares of Oncosil Medical fall as much as 26.9% to A$0.01, their lowest since Aug. 12

** Stock marks its weakest trading session since April 23

** Medical device maker says it has commitments for a placement of A$7 mln ($4.62 mln) at A$0.01 per share, and proposes to undertake a share purchase plan to raise about A$1 mln at the same price

** Offer price at a 23.1% discounts to its last close on Oct. 23, before a trading halt was placed

** About 32 mln shares change hands, compared with the 30-day average volume of 6.8 mln

** Stock has risen 17.6% YTD

($1 = 1.5142 Australian dollars)

(Reporting by Sneha Kumar in Bengaluru)

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

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