Australia's Buru Energy slumps on discounted placement
30/09/2024 02:02
** Shares of Buru Energy BRU.AX fall as much as 13.9% to
A$0.068, hitting their lowest level since March 24, 2020
** Oil & gas explorer raises A$6.7 mln ($4.64 mln) at an
issue price of A$0.062 per share
** Co says issue price is at a 17.3% discount to stock's
last close
** Says proceeds will be used to commercialise Rafael gas
project in Western Australia
** Stock posts its biggest intraday pct fall since Aug. 29
** Stock down 36% YTD, as of 0054 GMT
($1 = 1.4449 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com;))