** Shares of Empire Energy Group EEG.AX fall 14.6% to A$0.175, their lowest levels since May 6
** The oil and gas co raises A$28 million ($17.93 million) at A$0.16 per share
** Issue price represents a discount of nearly 22% on stock's last close
** Stock posts biggest percentage drop since June 6, 2022
** About 1.3 mln shares change hands, 4.2x the 30-day average of 306.8 mln shares
** Stock down 22.2% YTD, including moves in current session
($1 = 1.5620 Australian dollars)
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((JasmeenAraIslam.Shaikh@thomsonreuters.com;))
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