Australia's TMK Energy falls most in about a month on discounted placement

TMK Energy

20/04/2023 03:21

** Shares of TMK Energy  TMK.AX  dip as much as 11.1% to
A$0.016, posting their biggest intraday pct drop since March 22
    ** The oil and gas explorer says to raise about A$5.7 mln 
($3.82 mln), before costs, via a placement 
    ** Issue price of A$0.0145 per share is at a 19.4% discount
to last close on April 17
    ** Says proceeds from placement to fund expansion and
acceleration of the exploration drilling program at the
Gurvantes XXXV Coal Seam Gas Project
    ** Shares hit their lowest level since April 12
    ** TMK stock up 20% YTD as of last close 

($1 = 1.4914 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))