Australia's Pantoro falls most in 2 years on discounted placement

Pantoro Gold

14/03/2022 01:12

** Gold producer Pantoro Ltd  PNR.AX  falls as much as 14.7%
to A$0.290, posting its biggest intraday pct drop since March
2020
    ** Raises https://app.sharelinktechnologies.com/announcement/asx/2921317a2e051bba2669efc1640e05f5
 A$45 mln ($32.75 mln) via placement at issue price of A$0.29
per share
    ** Issue price represents a discount of 14.7% to stock's
last close on March 9
    ** Newly issued shares - 155.2 mln shares - represent 15.7%
of PNR's free float of 989.9 mln shares
    ** PNR hits lowest since Feb. 7, 2022
    ** More than 3 mln shares change hands, vs the 30-day
average of 1.5 mln shares
    ** PNR third-biggest percentage loser in the ASX All
Ordinaries index  .AORD 
    ** PNR up 1.5% this year, as of last close


($1 = 1.3742 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))