Australia's Jade Gas Holdings falls on discounted share placement

Jade Gas Holdings

28/04/2022 03:42

** Shares of Jade Gas Holdings  JGH.AX  drop as much as
10.8% to A$0.058 - set to fall the most since March 9 if losses
hold
    ** Oil and gas explorer says completes A$6.7 mln ($4.77 mln)
institutional placement of 128.0 mln new shares  urn:newsml:reuters.com:*:nFWN2WP2AU
    ** Issue price of A$0.052 represents a discount of 20% to
stock's closing price on Friday 
    ** Stock on trading halt on Tuesday and Wednesday 
    ** Fund raised will be used to accelerate exploration
activities at the TTCBM project in Mongolia, among others 
    ** As of last close, stock had fallen nearly 3% this year

($1 = 1.4059 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))