Australia's Armour Energy sees worst day in 16-mths on discounted placement

Armour Energy

27/09/2021 04:09

** Shares of Armour Energy Ltd  AJQ.AX  drop as much as
18.18% to A$0.027, their sharpest fall since May 2020
    ** Oil and gas explorer hits its lowest since July 23
    ** Co raises https://www.asx.com.au/asxpdf/20210927/pdf/450xnvfyzdxstl.pdf
 A$8.2 mln ($5.95 mln) via private placement of shares
    ** Issue price of A$0.026 per share is at a discount of
21.21% to stock's last close on Sep. 22
    ** Co to issue 315.4 mln new shares, which represents 19.26%
of its shares on issue - Refinitiv Eikon
    ** More than 2.1 mln shares change hands, vs the 30-day
average volume of 1.6 mln shares
    ** AJQ had been on a trading halt since Sep. 23
    ** Stock has fallen 34% this year, as of last close  

($1 = 1.3778 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((dhriti.garg@thomsonreuters.com))