Australia's Botala Energy gains on share placement at premium

Botala Energy

22/12/2023 01:58

** Shares of Australia's Botala Energy  BTE.AX  rise as much
as 17.3% to A$0.088, biggest intraday pct gain since Nov. 8
    ** Coal bed methane explorer says it has received firm
commitments for placement to raise A$2.4 mln ($1.63 mln) at
issue price of A$0.09 per share
    ** Issue price represents a premium of 20%, to stock's last
closing
    ** Issue of 26.7 mln shares represents ~1% of co's free
float of 27.6 mln shares - LSEG data
    ** Stock down 53.1% YTD, as of last close

($1 = 1.4725 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))