Australia's Kinetiko Energy hits 5-year low after discounted placement

Kinetiko Energy

12/06/2025 03:42

** Gas explorer Kinetiko Energy KKO.AX falls as much as 16% to A$0.042, its lowest since May 29, 2020

** Co receives commitments for a placement of A$2.2 mln ($1.43 mln) at an issue price of A$0.04 per new share

** Issue price represents a 20% discount to co's last closing price

** KKO down ~38.2% this year, including the session's losses

($1 = 1.5418 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.SinghChundawat@thomsonreuters.com))