Australia's Renu Energy hits record low after discounted placement

Janus Electric Holdings

21/11/2023 03:02

** Shares of Renu Energy  RNE.AX  fall as much as 31.8% to a
record low of A$0.015
    ** Stock posts its biggest intraday fall since Sept. 18,
2020
    ** Renewable energy co says it will raise up to A$2 mln 
($1.30 mln) via an entitlement offer priced at A$0.011 per new
share
    ** Offer price represents a 50% discount to last close
    ** Nearly 3.8 mln shares change hands, versus the 30-day
average volume of 283,364
    ** Stock down 56% this year, as of last close
    
($1 = 1.5366 Australian dollars)

 (Reporting by Aaditya Govind Rao)
 ((Aaditya.govindrao@thomsonreuters.com;))