BUZZ-Australia's Blue Energy slides on discounted placement

Reuters

2025/08/29

BUZZ-Australia's <a href="https://laohu8.com/S/BLU.AU">Blue Energy</a> slides on discounted placement

** Blue Energy BLU.AX slides 22.2% to A$0.007, lowest since August 11

** Stock set for weakest session since mid June

** Oil and gas explorer receives firm commitment to raise A$3.2 mln (~$2 mln) via two-tranche placement

** Issue price of A$0.005/share, represents 44.4% discount to last close

** Funds to be used to accelerate work of pilot well in co's North Bowen Basin asset in Queensland

** Co intends to undertake share purchase plan to raise up to A$250,000

** Stock logs busiest session since June 30, with ~5.4 mln shares traded - 6x the 30-day avg

** YTD, BLU falls 12.5%

($1 = A$1.5389)

(Reporting by Ananya Verma in Bengaluru)

((ananya.verma@thomsonreuters.com;))

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