Australia's Jade Gas hits over 2-month low on discounted placement

Jade Gas Holdings

16/10/2025 04:15

** Shares of Jade Gas Holdings Ltd JGH.AX fall as much as 12.5% to A$0.035, their lowest level since July 30

** Set for fifth session of consecutive losses

** Gas exploration co says firm commitments received to raise A$5 million ($3.24 million) via private placement

** Issue price of A$0.035 per share represents 12.5% discount to the stock's last close

** Co to also raise up to A$2.1 mln via a share purchase plan open to eligible shareholders at same price as placement

** Funds will be used to meet commercial production goals from the Red Lake gas field - co

** ~1.2 mln shares traded, 2.3x the 30-day average

** YTD, stock up 5.4%, including current session's move

($1 = 1.5415 Australian dollars)

 (Reporting by Ananya Verma in Bengaluru)

 ((ananya.verma@thomsonreuters.com;))