A2B Australia climbs on land swap deal with property developer Addenbrooke

A2B Australia

17/11/2021 01:00

** Shares of A2B Australia Ltd  A2B.AX  rise as much as 3.8%
to A$1.380, their highest since Oct 21
    ** The taxi services provider enters MoU with property
developer Addenbrooke Pty Ltd to facilitate a proposed land swap
of two properties
    ** A2B will become the owner of land currently owned by
Addenbrooke entities at Bourke Road, Alexandria
    ** On completion, new building on Bourke road will have an
estimated value of A$135 mln ($98.36 mln)  urn:newsml:reuters.com:*:nASX3l2WfJ
    ** Stock posts its biggest intraday pct gain since Oct. 21
    ** About 239,493 shares change hands, nearly thrice the
30-day avg volume of 87,273
    ** Stock has risen 10.8% this year, as of last close

($1 = 1.3725 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))