BUZZ-Australia's Way 2 Vat faces worst day in 4 months on discounted fund raise

Reuters02-28

** Shares of Way 2 Vat slump as much as 22.2% to A$0.021, face worst day since Nov 1 - if current losses hold

** Fintech co says it has received firm commitments to raise A$4.25 mln ($2.77 mln) via two-tranche share placement

** Co also launches a share purchase plan to raise up to A$1 mln

** Issue price of A$0.022 per share represents an 18.5% discount to last closing price

** Funds raised will be used for working capital purposes - co

** Shares hit their lowest level since Feb 20

** Stock had more than doubled in value this year, as of last close

($1 = 1.5316 Australian dollars)

(Reporting by Archishma Iyer)

((Archishma.Iyer@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.

Comments

We need your insight to fill this gap
Leave a comment