Australia's Buru Energy drops on discounted placement

Buru Energy

17/04/2026 05:45

** Shares of Australia's Buru Energy BRU.AX fall as much as 15.8% to A$0.016, their biggest intraday pct loss since April 7

** Stock touches lowest level since April 8

** The diversified energy co says it would raise A$5.3 mln ($3.80 million) through placement

** Offer price of A$0.015/share represents 21.1% discount as of co's last close on Wednesday, before it went on a trading halt after market close

** Says funds raised to be used for scoping projects of co's Rafael Gas Project in Australia

** Stock flat YTD

($1 = 1.3951 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))