Australia's Invictus hits one-month low on discounted fund raise

Invictus Energy

27/12/2023 24:00

** Shares of Invictus Energy  IVZ.AX  slump as much as 19.3%
to A$0.13, hitting their lowest since Nov 22 
    ** Stock down for a third straight session 
    ** The upstream oil & gas co says it has raised A$15 mln 
($10.24 mln) via a share placement 
    ** Issue price of A$0.13 per share is at a 16% discount to
last traded price on Dec 21, before it went on a trading halt 
    ** Co says funds raised will be invested in the Mukuyu gas
field at the Cabora Bassa project in Northern Zimbabwe
    ** Shares set for worst day since Dec 15 - if losses hold  
    ** Stock had fallen ~46.6% this year, as of last close

($1 = 1.4654 Australian dollars)

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