Australia's Hazer Group tumbles on discounted placement

Hazer

16/06/2025 03:29

** Shares of Hazer Group HZR.AX fall 13.9% to A$0.31, hitting their lowest level since April 14

** Stock eyes weakest trading session since late July 2022, if trend sustains

** Climate technology firm receives firm commitments to raise A$8 million ($5.19 million) via a placement

** Placement issue price at A$0.31 per share, a 13.9% discount to stock's last close

** Says funds to be used for advancing co's proprietary methane reactor technology among others

** More than 1 million shares change hands, 4 times the 30-day average

** Stock down 17.3% YTD, including current session's moves

($1 = 1.5423 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))