Australia's Invictus Energy slips most in nearly 4 months on discounted placement

Invictus Energy

31/08/2022 06:06

** Shares of Invictus Energy  IVZ.AX  slump as much as 22.6%
to A$0.24, seeing their worst day since May 9 - if losses hold 
    ** The oil and gas co says it has received firm commitments
to raise A$25 million ($17.21 million) via a private
placement urn:newsml:reuters.com:*:nASM000P5H
    ** Co says capital raised will be used to fund the initial
drilling campaign in Zimbabwe's Cabora Bassa Basin 
    ** Issue price of A$0.23 per share is at a 25.8% discount to
the last closing price on Aug 24, before going on a trading halt
    ** Nearly 11.5 mln share change hands, 4.1 times the 30-day
average volume of about 2.9 mln shares 
    ** Shares hit lowest since Aug 12; fall for second
continuous session  
    ** Stock has more than doubled in value this year as of last
close

($1 = 1.4529 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))