Australia's Jade Gas Holdings falls on discounted placement

Jade Gas Holdings

02/11/2022 02:03

** Shares of Jade Gas Holdings Ltd  JGH.AX  fall as much as
2% to A$0.05, their lowest since Oct 27
    ** Descriptor says it raised A$3.0 mln ($1.92 mln) via
placement of 60 mln shares  urn:newsml:reuters.com:*:nASX6ch4Sk
    ** Issue price of A$0.05 represents a discount of 2% to co's
last closing price of $0.051 on 28 Oct
    ** Says funding from placement will be used for long lead
items for 2023 pilot production program, among others
    ** Stock posts its biggest intraday pct fall since Oct 27
    ** Stock has fallen 23.9% this year as of last close
($1 = 1.5625 Australian dollars)
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))