Australia's Energy World Corp jumps most in 6 weeks on premium placement

Energy World

25/11/2022 24:44

** Shares of Energy World Corp  EWC.AX  jump as much as 7.5%
to A$0.043, their biggest intraday pct gain since Oct. 13
    ** EWC announces a non-renounceable pro-rata entitlement
offer to raise A$54.4 mln ($36.76 mln)
    ** Issue price of A$0.05 per share is at a 25% premium to
last close on Nov. 23
    ** Says funds raised to be used to refurbish co's gas
processing facility at Eromanga, among others 
    ** Shares touch their highest since Nov. 14
    ** Stock has gained 5% so far this week, best week since
Sept. 22 if gains hold
    ** Stock has fallen 55.6% this year, as of last close 
($1 = 1.4799 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))