** Shares of energy co Comet Ridge fall as much as 12.9% to A$0.135, their lowest level since May 9, 2023
** Co is set for placement of A$12 million ($7.66 million)
** Offer price of A$0.14 represents a 9.7% discount to stock's last close on Dec. 9
** Co to use proceeds to fund its portion of Mahalo Joint Venture Front End Engineering Design (FEED) following approval
** Stock posts its biggest intraday percentage fall since July 27, 2023
** 2.4 million shares change hands, compared with the 30-day average volume of 917,696
** Stock has fallen 29.6% YTD, as of last close
($1 = 1.5664 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
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