Australia's Prominence Energy falls most in 1 month over discounted placement

Prominence Energy

06/03/2024 24:36

** Shares of Australia's Prominence Energy  PRM.AX  fall as
much as 9.1% to A$0.01, their biggest intraday pct drop since
Feb 6
    ** Stock at its lowest level since Feb 19
    ** The energy co receives firm commitments to raise A$1.55
mln ($1.01 mln)
    ** Placement at an issue price of A$0.01 per share,
represents a discount of 9.1% to stock's last closing
    ** Issue of 155 mln shares represent 3.3% of co's free float
of 47.3 mln shares - LSEG data
    ** PRM flat YTD, as of last close
    
    ($1 = 1.5380 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))