Australia's Airtasker slips on discounted placement

Shares of Australia's Airtasker ART.AX fall as much as 10.5% to A$0.30, their biggest intraday fall since April 7

Online marketplace for local services raises A$10 million ($6.52 million) via placement at A$0.30 per share

Placement price represents 10.4% discount to the stock's last traded price

Proceeds to be used to fund targeted marketing investments in the U.S. and the UK

In a separate announcement, the co said its strategic partnership with iHeartMedia IHRT.O will provide Airtasker USA with an additional $5 million in media and advertising resources

Around 785,000 shares change hands, nearly 4x 30-day average

ART down 33.3% YTD

($1 = 1.5337 Australian dollars)