Australia's Triangle Energy hits 3-1/2-month low on discounted placement

Triangle Energy (Global)

02/05/2022 03:10

** Shares of Triangle Energy (Global) Ltd  TEG.AX  shed as
much as 13.3% to A$0.013, hit lowest level since Jan. 14
    ** Oil producer and explorer says it raised A$3.5 mln ($2.47
mln) to fund various projects  urn:newsml:reuters.com:*:nGLF8mX4Zk
    ** Issue price of 1.3 AU cents represents a discount of
13.3% to stock's last close on April 27
    ** TEG could see its worst day since Feb. 28, if losses hold
    ** More than 6.7 mln shares change hands, compared with the
30-day average volume of about 3.2 mln shares
    ** Trading in TEG shares was halted on April 28 over likely
announcement on capital raise
    ** Stock has risen 15.4% this year, as of last close  
 


($1 = 1.4192 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))