Australia's Toro Energy faces worst day in 9 months on discounted placement

Toro Energy

09/12/2022 24:25

** Shares of Toro Energy Ltd  TOE.AX  fall as much as 15.4%
to A$0.011 - set for worst day since March 4 if losses hold
    ** Miner receives firm commitments to raise approximately
A$5 mln ($3.39 mln) in a placement at A$0.011 per share  
    ** Placement at a discount of 15.4% to stock's last close 
    ** Shares of co hit their lowest since June 30 
    ** More than 19.25 mln shares change hands, compared with
the 30-day average trading volume of 3.75 mln shares  
    ** Shares of co down 40.9% YTD, as of last close 
    ($1 = 1.4758 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))