Australia's Vmoto hits over 5-mth low on discounted placement

Vmoto

13/10/2023 01:38

** Shares of Australia's Vmoto Ltd  VMT.AX  fall as much as
9.1% to A$0.150
    ** Stock hits lowest since May 5, 2020 
    ** Electric two-wheel vehicle manufacturer says co will
undertake non-renounceable entitlement offer to raise up to
A$10.8 mln ($6.82 mln) at issue price of A$0.15 per new share
    ** Issue price is discount of nearly 10% to co's last close 
    ** VMT has fallen 58.2% this year, as of last close


($1 = 1.5828 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))