Australia's Toro Energy sees worst day in over 7 weeks on discounted share placement

Toro Energy

21/05/2021 04:37

** Shares of Toro Energy  TOE.AX  fall as much as 17.2% to
A$0.024, post their biggest intraday percentage drop since March
31 
    ** Uranium explorer raises A$15 mln ($11.64 mln) via a 
placement at an issue price of A$0.023 per share  urn:newsml:reuters.com:*:nASXbsQTWc
    ** Issue price represents a 20.7% discount to stock's close
on Tuesday, when it last traded  urn:newsml:reuters.com:*:nASXbsQTWc
    ** Stock hits lowest since May 6 
    ** About 12 mln shares change hands, compared with the
30-day average of 4.9 mln shares 
    ** Stock up 93.3% this year, as of last close 
    
($1 = 1.2888 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))