Australia's Jade Gas Holdings jumps most in about 3 months on premium placement

Jade Gas Holdings

14/03/2023 24:17

** Shares of Jade Gas Holdings  JGH.AX  climb as much as
10.6% to A$0.052, posting their biggest intraday pct gain since
Dec 22, 2022
    ** The gas producer says it has executed a subscription
agreement for about A$10.7 mln ($7.13 mln) before costs via
placement of 178.6 mln fully paid ordinary shares
    ** Issue price of 6 AU cents per share is at a 27.7% premium
to last close on March 8
    ** Says funds raised to be primarily used for pilot
production programme
    ** Stock hits its highest level since Feb 3
    ** About 1.3 mln shares exchange hands vs the 30-day average
of 390,907 shares
    ** Stock down 4.1% YTD, as of last close 
    
    ($1 = 1.5017 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))