Australia's Invictus Energy slumps on discounted placement

Invictus Energy

06/06/2023 02:33

** Shares of Invictus Energy  IVZ.AX  dive as much as 13% to
A$0.128, their worst day since April 6 - if losses hold 
    ** The oil and gas explorer says it has raised A$12.75
million ($8.43 million) via an institutional placement
    ** Says funds raised will be used to support the upcoming
Phase 2 exploration and appraisal campaign in Zimbabwe's Cabora
Bassa Basin
    ** Issue price of A$0.12 per share is at a 11.1% discount to
the last trading price on June 1 
    ** Shares hit lowest since May 23
    ** Stock has fallen 56.9% this year, as of last close


($1 = 1.5122 Australian dollars)

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