Australia's Po Valley Energy faces worst day in 3 weeks on discounted placement
10/08/2022 06:55
** Shares of Po Valley Energy Ltd PVE.AX fall as much as
12.5% to A$0.07 - set for worst session since July 20, if losses
hold
** Co, which owns a portfolio of natural gas fields,
announces completion of A$4.5 mln ($3.13 mln) share placement
** Issue price of A$0.055/share represents a discount of
31.3% to stock's last close on Aug. 8
** Proceeds will enable co to commence construction at
Podere Maiar gas field in Italy, among others urn:newsml:reuters.com:*:nASX5kHX5d
** Stock had risen 220% this year, as of last close
($1 = 1.4378 Australian dollars)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))
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