Australia's Strike Energy slips to more than 5-year low on discounted stake sale offer

Strike Energy

22/07/2025 04:23

** Strike Energy STX.AX slips as much as 18.8% to A$0.130, lowest since May 5, 2020

** Firm says Carnarvon Energy CVN.AX to invest up to A$88 mln ($57.4 mln) via two-tranche placement to buy up to 19.9% stake in Strike Energy

** Issue price of A$0.12 represents 25% discount to last close

** Proceeds to fund core assets development in West Australia, other places

** Co to undertake non-underwritten share purchase plan of up to A$10 mln

** About 15.7 mln shares traded, 3.2x the 30-day avg

** STX last down ~14%, taking YTD losses to 34.5%

($1 = A$1.5328)

 (Reporting by Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))