Australia's Bass Oil slips on discounted capital raise

Bass Oil

19/04/2024 02:13

** Shares of Bass Oil  BAS.AX  fall as much as 3.9% to
A$0.074, hitting their worst level since April 4
    ** The diversified oil and gas company completes placement
to raise A$1.1 mln ($705,430)
    ** Co says placement is at issue price of A$0.07 per
share 
    ** Adds issue price is at 9% discount to stock's last
closing price
    ** Stock on track for its worst day since April 12, if
current trend holds
    ** Stock poised for worst week since week ended March 1, if
losses hold 
    ** Stock has fallen about 5% this year, as of last close

    ($1 = 1.5593 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))