BPH energy touches near 2-year low on proposed hydrogen investment
24/05/2022 04:35
** Shares of the Australian energy explorer BPH.AX slump
as much as 37.8% to A$0.023 to hit their lowest levels since
August 2020
** Co says it intends to pursue an investment in hydrogen
technology co Clean Hydrogen Technologies Corp (CHT) urn:newsml:reuters.com:*:nASX3bMYvs
** Says co entered a binding term sheet with CHT to
subscribe for a 10% stake, subject to shareholder approval
** Shares on track for their biggest intraday pct loss since
March 2021
** More than 23.2 mln shares change hands, compared with the
30-day average volume of ~2.3 mln shares
** Stock down 35% this year, as of last close, vs a 4% fall
in the benchmark S&P/ASX 200 index .AXJO
(Reporting by Roushni Nair in Bengaluru)
((Roushni.Nair@thomsonreuters.com;))