Australia's Invictus Energy plunges on discounted placement

Invictus Energy

06/04/2023 02:09

** Shares of Australia's Invictus Energy Ltd  IVZ.AX  fall
as much as 16.7% to A$0.125 - set to drop the most since Jan 3,
if current losses hold
    ** Oil and gas explorer raises A$10 mln ($6.71 mln) in share
placement
    ** Says placement at an issue price of A$0.12 per share,
which represents a discount of 20% to stock's last close
    ** Says funds raised will be used to advance preparations
for an appraisal and exploration campaign in Zimbabwe's Cabora
Bassa Basin
    ** Stock hits lowest since March 31
    ** Stock down 48.3% this year, as of last close

($1 = 1.4908 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))