Australia's Invictus Energy eyes worst day in 2 weeks on discounted placement

Invictus Energy

23/05/2022 03:31

** Shares of the oil and gas explorer  IVZ.AX  slip as much
as 14.6% to A$0.235, post their biggest intraday pct loss since
May 9 
    ** Co says it received commitments from sophisticated and
institutional investors for A$12 mln ($8.50 mln) in private
placement  urn:newsml:reuters.com:*:nASX78yrcf
    ** Says it will issue ~60 mln shares at an issue price of
A$0.20 per new share
    ** Issue price represents a discount of 27.3% to stock's
close on May 18, the last trading day before placement 
    ** Co says funds will be used for drilling activities to be
undertaken in July-August
    ** Shares hit their lowest since May 17 
    ** Stock up 120% this year, as of last close, vs a 3.9%
decline in the benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.4120 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))