Australia's Toro Energy falls most in 1-1/2 month on discounted placement

Toro Energy

22/01/2024 01:47

** Shares of Australia's Toro Energy  TOE.AX  fall as much
as 15% to A$0.51, marking their biggest intraday pct drop since
Dec. 8, 2023
    ** Stock hits its lowest level since Jan. 11
    ** Uranium developer and explorer says it received firm
commitments to raise A$12.3 mln ($8.12 mln) in a placement 
    ** Issue price of A$0.52 per share represents a discount of
13.3% to stock's last closing
    ** Issue of 23 mln shares represents 0.3% of co's free float
of 76.4 mln shares - LSEG data
    ** Nearly 767,700 shares change hands by 0136 GMT, vs the
30-day average volume of about 476,900 shares
    ** Stock rose 4.4% in 2023

($1 = 1.5145 Australian dollars)

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