Australia's Empire Energy slumps on discounted placement

Beetaloo Energy Australia

16/05/2025 02:27

** Shares of Empire Energy Group EEG.AX fall 14.6% to A$0.175, their lowest levels since May 6

** The oil and gas co raises A$28 million ($17.93 million) at A$0.16 per share

** Issue price represents a discount of nearly 22% on stock's last close

** Stock posts biggest percentage drop since June 6, 2022

** About 1.3 mln shares change hands, 4.2x the 30-day average of 306.8 mln shares

** Stock down 22.2% YTD, including moves in current session

($1 = 1.5620 Australian dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))