Australia's Triangle Energy slips on discounted capital raise

Triangle Energy (Global)

30/07/2024 03:59

** Shares of Triangle Energy  TEG.AX  fall as much as 23.5%
to A$0.013, set to lose most since Feb 2022, if current trend
holds
    ** The oil producer and explorer raises A$4 mln ($2.62 mln)
at an issue price of 1.5 AU cents per share
    ** Says issue price is at an 11.8% discount to stock's last
close
    ** Stock hits its lowest level since Nov 2022
    ** About 42.7 mln shares change hands, compared with the
30-day average volume of 4.8 mln
    ** Stock down 31.8% this year, as of last close

    ($1 = 1.5274 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))