Australia's Aura Energy faces worst day in nearly 4 years on discounted placement

Aura Energy

18/03/2024 02:12

** Shares of Aura Energy  AEE.AX  fall as much as 22.7% to
A$0.170, posting their biggest intraday pct drop since May 18,
2020
    ** Stock hits its lowest level since June 2, 2023
    ** Uranium explorer says it will raise A$16.2 mln ($10.63
mln) via placement 
    ** Issue price of A$0.18 per share represents an 18.2%
discount to AEE's last close
    ** Co proposes A$2 mln share purchase plan on same terms as
placement
    ** About 2.8 mln shares change hands, 3.1x the 30-day avg
volume
    ** Stock down ~17% YTD, as of last close

($1 = 1.5239 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))