Australia's Pilot Energy hits four-month low on discounted placement
06/11/2023 24:57
** Shares of Pilot Energy PGY.AX slip as much as 4.8% to
A$0.02, hitting their lowest since July 3
** Oil and gas explorer says it has received commitments for
a placement to raise A$2.4 mln ($1.56 mln)
** Funds raised will be used to progress the Mid West Clean
Energy Project in Western Australia, among others
** Issue price of A$0.02 per share represents a 4.8%
discount to the last closing price on Nov 2
** Shares fall for a third straight session
** Stock down ~31.3% this year, as of last close
($1 = 1.5352 Australian dollars)
(Reporting by Archishma Iyer)
((Archishma.Iyer@thomsonreuters.com;))