Australis Oil & Gas falls most in over 2 months on discounted share placement

Australis Oil & Gas

01/03/2021 02:23

** Shares of oil and gas explorer Australis Oil & Gas
 ATS.AX  fall as much as 8.8% to A$0.052, marking their biggest
intraday percentage loss since Dec. 22 
    ** Co received firm commitments to raise A$8.2 mln ($6.36
mln)and a share purchase plan to raise up to A$2 mln at A$0.05
per share, a 12.3% discount to its last close on Wednesday, when
the stock last traded  urn:newsml:reuters.com:*:nASXbcnCcN
    ** Stock hits lowest since Feb. 1 and is on track for second
consecutive session of decline
    ** About 5.6 mln shares change hands, compared with 30-day
average of 3.8 mln shares 
    ** Stock down 5% this year as of last close 


($1 = 1.2902 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))