Australia's Tamboran Resources falls most in over 2 weeks on ASX delisting

Tamboran Resources

12/10/2023 04:58

** Shares of Tamboran Resources  TBN.AX  fall as much as 10.3% to A$0.13,
seeing its biggest intraday pct fall since Sept. 26
    ** TBN at its lowest level since Sept. 27
    ** Co to de-list from ASX and become part of newly formed corporation
Tamboran US HoldCo in Delaware; decides to re-domicile itself and units from
Australia to the U.S. 
    ** Adds Tamboran US HoldCo will be parent company of TBN and will retain
listing on ASX via Chess Depositary Interests
    ** Nearly 2.3 mln shares change hands as of 0350 GMT, 3.5 times vs 30-day
average volume of 643,456 shares
    ** Stock down 39.6% YTD, as of last close

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