Australia's Buru Energy drops to 3-1/2-week low on discounted placement

Buru Energy

01/09/2025 03:10

** Shares of Australia's Buru Energy BRU.AX fall as much as 12.5% to A$0.021, their lowest level since August 7

** Stock posts its biggest intraday pct fall since July 30

** The diversified energy co plans to raise A$2.1 million ($1.36 million) via placement, and also announces share purchase programme to raise a further A$3 million

** Both placement and share purchase plan at an issue price of A$0.02 per share

** Issue price at a discount of 16.7% to stock's last close

** Raising funds provides funding to enable final investment decision in 2H FY26, others for co's Rafael Gas Project - BRU

** Stock has fallen 50% this year, as of 0206 GMT

($1 = 1.5389 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com;))