Australia's Invictus Energy falls most in 8-1/2 months on discounted placement

Invictus Energy

21/09/2023 01:45

** Shares of Invictus Energy  IVZ.AX  fall as much as 22.5%
to A$0.155 - set for worst day since Jan 3, if losses hold
    ** Oil and gas co says it has secured firm commitments to
raise A$15 mln ($9.64 mln) via a two-tranche placement
    ** The issue price of A$0.15 per new share represents a 25%
discount to the stock's last close
    ** Proceeds will be used to fund upcoming Mukuyu-2
exploration campaign in Zimbabwe - co
    ** About 6.4 mln shares change hands, compared with the
30-day average volume of 4.8 mln
    ** IVZ top percentage loser on the ASX All Ordinaries Index
 .AORD 
    ** Stock down 31% YTD, as of last close
    
($1 = 1.5559 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))