Australia's Emperor Energy eyes worst day in over 20 months on discounted placement

Emperor Energy

25/10/2022 01:35

** Shares of Australia's Emperor Energy  EMP.AX  fall as
much as 21.4% to A$0.033, their lowest since Oct. 5
    ** The energy co receives firm commitments to raise A$1.1
million ($695,860.00)  urn:newsml:reuters.com:*:nASX5p0VD7
    ** Says placement through the issue of 35 mln shares at an
issue price of 3.2 AU cents per share, which is at a discount of
23.8% to co's last close on Oct. 20
    ** Says net proceeds will strengthen co's balance sheet and
provide important funding to company exploration activities
    ** Stock posts its biggest intraday pct fall since Feb 2021
    ** More than 2.4 mln shares change hands, compared with the
30-day average volume of 268,204 shares
    ** Stock has fallen 27.6% this year, as of last close$1 =
1.5808 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))