BUZZ-Australia's <a href="https://laohu8.com/S/FDR.AU">Finder Energy</a> drops on discounted placement ** Shares of Finder Energy Holdings FDR.AX fall as much as 14.8% to A$0.070, post their worst intraday pct drop since May 23; last down nearly 10%
** Oil and gas explorer announces placement of 92.3 mln shares at A$0.065/share, a 20.7% discount on its close on June 30; stock was on trading halt on July 1 & 2
** Newly issued shares represent 102% of FDR's free float of 90.3 mln, as per data compiled by LSEG
** Proceeds will be used to develop the Kuda Tasi and Jahal Oil project in Timor-Leste
** Around 599,000 shares traded so far, nearly 1.7x its 30-day avg
** YTD, stock gains 89.7%
($1 = 1.5216 Australian dollars)
(Reporting by Keshav Singh Chundawat in Bengaluru)
((Keshav.SinghChundawat@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.